WASHINGTON, March 8 (Reuters) - President Donald Trump pressed ahead with the imposition of 25 percent tariffs on steel imports and 10 percent for aluminum on Thursday but exempted Canada and Mexico, backtracking from earlier pledges of tariffs on all countries. The president said he was pleased with progress in the NAFTA talks, although he repeated that he would be willing to terminate the agreement. Car manufacturing’s contribution to the U.S., Mexican and Canadian economies far outweighs that of steel and aluminum production. Countermeasures would include European tariffs on U.S. oranges, tobacco and bourbon, he said. Trump has also threatened to impose hefty tariffs on European car exports if the EU does take retaliatory measures.

Source: Huffington Post March 08, 2018 20:54 UTC