Trump rescinds tariff exemptions

On May 31, President Donald Trump announced via a pair of presidential proclamations that steel and aluminum tariff exemptions previously extended to Canada, Mexico, and the European Union were being withdrawn, effective June 1. Previously, Canada, Mexico, Australia, Argentina, South Korea, Brazil, and the European Union had either been exempted from the tariffs or had made separate agreements with the U.S. to reduce the impact of the tariffs. In the pair of proclamations however, the trio of countries was no longer included in the list of exempted countries. — WLJ