US Treasury Sec Says Trump Not Decided on Metal Tariff Exemptions

U.S. President Donald Trump has not yet made a decision on whether any countries should get extended exemptions on steel and aluminum tariffs, U.S. Treasury Secretary Steven Mnuchin said in an interview that aired on Monday.

“The president has not made any decision yet,” Mnuchin told Fox Business Network, speaking ahead of his appearance at a conference in Beverly Hills later on Monday and ahead of Tuesday’s tariff deadline.

Trump imposed a 25 percent tariff on steel imports and a 10 percent tariff on aluminum in March, but granted temporary exemptions to certain countries. Those exemptions will expire on Tuesday.

U.S. Commerce Secretary Wilbur Ross said in an interview with Bloomberg published on Sunday that the White House will continue to grant some countries relief from the metal tariffs, although he declined to name the nations.

Ross also indicated that the White House had asked countries to accept import quotas in return for exemption from tariffs on the metals, Bloomberg said.

via CNBC

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza