The British steel industry, which employs 32,000 people, warned that America appeared likely to insist that any nations granted a permanent exemption must export less LINDSEY PARNABY/AFP/GETTY IMAGESBritain’s steel manufacturers will be exempted from steep tariffs on American imports for another month after President Trump extended a temporary exemption. Hours before the United States was due to impose import duties of 25 per cent on steel and 10 per cent on aluminium from the European Union, Canada and Mexico, the White House said on Monday that it would grant international allies a “final” extension until June 1. The US imposed the levies in March in an attempt to reduce its reliance on foreign steel and aluminium, but Mr Trump handed the EU and other big exporters temporary immunity. Liam Fox, the trade secretary, said that he was “delighted” with the extension, although his counterparts in Europe indicated that they would refuse to…

Source: The Times May 01, 2018 22:59 UTC