Sign up for our daily briefing
Make your busy days simpler with Axios AM/PM. Catch up on what's new and why it matters in just 5 minutes.
Catch up on the day's biggest business stories
Subscribe to Axios Closer for insights into the day’s business news and trends and why they matter
Stay on top of the latest market trends
Subscribe to Axios Markets for the latest market trends and economic insights. Sign up for free.
Sports news worthy of your time
Binge on the stats and stories that drive the sports world with Axios Sports. Sign up for free.
Tech news worthy of your time
Get our smart take on technology from the Valley and D.C. with Axios Login. Sign up for free.
Get the inside stories
Get an insider's guide to the new White House with Axios Sneak Peek. Sign up for free.
Catch up on coronavirus stories and special reports, curated by Mike Allen everyday
Catch up on coronavirus stories and special reports, curated by Mike Allen everyday
Want a daily digest of the top Denver news?
Get a daily digest of the most important stories affecting your hometown with Axios Denver
Want a daily digest of the top Des Moines news?
Get a daily digest of the most important stories affecting your hometown with Axios Des Moines
Want a daily digest of the top Twin Cities news?
Get a daily digest of the most important stories affecting your hometown with Axios Twin Cities
Want a daily digest of the top Tampa Bay news?
Get a daily digest of the most important stories affecting your hometown with Axios Tampa Bay
Want a daily digest of the top Charlotte news?
Get a daily digest of the most important stories affecting your hometown with Axios Charlotte
Sign up for Axios NW Arkansas
Stay up-to-date on the most important and interesting stories affecting NW Arkansas, authored by local reporters
The Trump administration has begun imposing tariffs on imports of steel and aluminum, but several countries are exempted temporarily until May 1, as shown in the chart above. The administration may still apply quotas on exempted countries to prevent a flood of foreign steel and aluminum in the U.S. market, per the White House.
Why it matters: After railroading past a number of his advisors, Trump announced the tariffs on imports of steel (at 25%) and aluminum (at 10%) earlier this month, citing national security concerns. But with the exemption noted above, the tariffs won't carry major bite, at least to start.
The exempted: The EU member countries, Argentina, Australia, Brazil, Canada, Mexico, and South Korea.
- Why exempt them, per Trump: “Each of these countries has an important security relationship with the United States” and the best way forward is to continue conversations exempt them “at least at this time.” Trump left the door open for other countries to negotiate exemptions.
The response:
- The EU was planning tit-for-tat tariffs on the U.S., and could have expanded them beyond steel and aluminum.
- South Korea will seek new markets for steel, its trade minister had announced.
- China announced reciprocal tariffs on $3 billion of imports from the U.S., including on fruit, pork, wine, seafood, and more than 100 other items.
Bottom line: The extent of the effect of the tariffs has yet to be set in stone — the exempted countries are still discussing with the administration what they will ultimately do about their exports to the U.S., and other countries still have the opportunity to either receive exemptions or hit back with reciprocal tariffs.
- An administration official tells Axios the U.S. is indeed at this time “in discussions with several other countries" on this front.
Go deeper... Trade wars: The effect of Trump’s tariffs