WASHINGTON, D.C. (CBSNEWS.COM) – The Trump administration announced that the U.S will ifrom Europe, Canada and Mexico, as a previously designated exemption expires tonight at midnight. Mr. Trump announced back in March that the United States would slap tariffs on such imports, citing national security interests. Commerce Secretary Wilbur Ross said Canada, Mexico and the EU will now be placed under a 25 percent tariff on steel and 10 precent on aluminum once the deadline hits Thursday night.
“As to Canada, Mexico, you will recall that the reason for the deferral had been pending the outcome of the NAFTA talks. As have been released publicly, those talks are taking longer than we had hoped. There is no longer a very precise date when they may be concluded and therefore they were added into the list of those who will bear tariffs,” explained Ross on a background call with reporters Thursday morning.
Ross, however, does not expect trade talks to be derailed because of the U.S’ move. He also expected NAFTA negotiations to continue despite the new barriers slapped on the U.S.’s neighbors to the north and south, and pointed to the fact that negotiations continue with China despite the barriers slapped on them previously by the united states.
U.S. and European officials held last-ditch talks in Paris on Thursday to try to reach a deal, though hopes are low and fears of a trade war are mounting.