US exempts more countries from steel, aluminum tariffs

By Ovunc Kutlu

NEW YORK

The U.S. President Donald Trump's much controversial action to impose tariffs on steel and aluminum imports have exempted more countries from the decision, U.S. Trade Representative Robert Lighthizer said Thursday.

Speaking at the U.S. Senate Finance Committee, Lighthizer said the European Union, Argentina, Australia, Brazil and South Korea would temporarily be exempt from the tariffs decision.

The Trump administration earlier announced that Canada and Mexico would be exempt from the decision until the conclusion of the North American Free Trade Agreement (NAFTA) negotiations.

Notable countries that were not included in the exemption list were Japan and China.

While China was slapped by separate tariffs earlier Thursday, with Trump's $60 billion on Chinese imports, Japan was criticized by the President earlier for its trade relations with the U.S.

The U.S. will begin Friday imposing tariffs of 25 percent on steel and 10 percent on aluminum imports.

While Canadian steel comprised 16 percent of the U.S.' steel imports last year, Brazilian steel had a share of 13 percent in the U.S. imports of steel, according to data on IHS Global Trade Atlas.

They were followed by South Korea with 10 percent, Mexico Russia with 10 percent each, and Turkey with seven percent.

More than half of the U.S. aluminum imports, 56 percent, come from Canada. This is followed by Russia and China with eight percent and six percent, respectively, according to the data.