Washington — US President Donald Trump on Thursday authorised the suspension of controversial tariffs on steel and aluminium imports from key trade partners including the European Union. Trump shocked the world with his sudden announcement earlier this month of a 10% levy on aluminium and a 25% tariff on steel, angering Washington’s closest allies, which swiftly demanded that they be exempt. "The tariffs on steel and aluminium imports from the following countries are suspended until May 1 2018," the White House said, listing EU member states, Argentina, Australia, Brazil, Canada, Mexico and South Korea. "Each of these countries has an important security relationship with the US," a proclamation from Trump announcing the steel decision said. The US was in talks with the countries "on satisfactory alternative means to address the threatened impairment to the national security by imports of steel articles", and tariffs on steel imports from the trade partners would be exempt for now, i...

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Sunday Times Daily.

Already subscribed? Simply sign in below.

Questions or problems? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now