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White House: US Allows Tariff Exemptions, but May Slap Quotas

Written: 2018-03-23 15:05:32Updated: 2018-03-23 15:23:58

White House: US Allows Tariff Exemptions, but May Slap Quotas

The White House says that the U.S. will temporarily exempt South Korea and some allies from stiff steel and aluminum tariffs, but it may impose import quotas to prevent excessive foreign metal from flooding into the U.S. 

The White House on Thursday issued a press release revealing that the Trump administration would exempt the European Union, Canada, Mexico, Argentina, Australia, Brazil and South Korea from the tariffs until May first. 

It instead plans to closely monitor steel and aluminum imports from those countries. 

The White House said that after the monitoring, the U.S. trade representative may recommend President Donald Trump impose proper quotas after consultations with the commerce secretary and the chief of the National Economic Council at the White House.

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