White House extends Europe’s exemption from tariffs on steel and aluminum, which was due to expire Tuesday

Donald Trump has pulled back from a potential trade war with Europe by postponing a decision on imposing steel and aluminum tariffs until 1 June.

The US president imposed a worldwide 25% tariff on steel imports and a 10% tariff on aluminum in March but granted temporary exemptions to Canada, Mexico, Brazil, the European Union (EU), Australia and Argentina. These were due to expire at 12.01am on Tuesday.

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Read More Trump postpones decision over EU tariffs, staving off potential trade war

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