• Home
  • News
  • AMENDMENTS TO THE IMPORT TAX ON ALUMINUM AND STEEL TO BIG PARTNERS BY DAY 1/5

AMENDMENTS TO THE IMPORT TAX ON ALUMINUM AND STEEL TO BIG PARTNERS BY DAY 1/5

On March 22, the White House announced its decision to postpone President Donald Trump’s new steel and aluminum tariffs on its major trading partners.

 

The White House statement stated that members of the European Union (EU) along with Argentina, Australia, Brazil, Canada, Mexico and South Korea will be postponed until May 1. According to the statement, these are countries that have “important security ties” with the United States.

 

Washington is working with them to find “alternative solutions that the parties are satisfied to address concerns about the import of steel that threatens national security.” During this discussion, the imposition of new aluminum and steel import tariffs will be postponed.

 

Earlier, on March 8, despite the opposition of many MPs and businessmen in the country, US President Donald Trump signed a decree to impose a new tax rate, 25% for steel. and 10% for imported aluminum.

 

The new tax bill also faces opposition from a number of nations, including close US allies, as well as organizations around the world. Many countries have tried their best to minimize the impact of these tariffs on their industry.

 

US trade partners, industry groups and Republican senators worry that President Trump’s decision will trigger a global trade war.

REGISTER FOR NEWSLETTER