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Donald Trump sets metals tariffs but exempts Canada and Mexico

Stock markets in Canada and Mexico rallied on the news, as did the Canadian dollar and the Mexican peso

Donald Trump

Reuters  |  Washington/Santiago 

President Donald Trump pressed ahead with the imposition of 25 per cent tariffs on steel imports and 10 per cent on aluminum on Thursday but exempted Canada and Mexico, backtracking from earlier pledges of tariffs on all countries. Trump has offered relief from steel and aluminum tariffs to countries that "treat us fairly on trade," a gesture aimed at putting pressure on Canada and Mexico to give ground in separate talks on the North American Free Trade Agreement (NAFTA), which appear to be stalled. Trump has also demanded concession from the European Union, complaining ...

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First Published: Fri, March 09 2018. 03:02 IST