Donald Trump suspends metal tariffs for EU, different partners

Washington, Mar 23 United States President Donald Trump has exempted the European Union (EU) and its other key exchange partners from tariffs imposed on steel and aluminum imports.

The EU, alongside Argentina, Australia, Brazil and South Korea, would not be liable to the duties, US exchange agent Robert Lighthizer said before Senate Finance Committee on Thursday, the Independent reported.

"The idea that the President has is that, in view of a specific arrangement of criteria, a few nations ought to be out," Lighthizer said.

"What he has chosen to do, is delay the execution of the duties in regard to those nations," the trade representative added.

Earlier in the day, Trump forced massive trade tariffs amounting to USD 60 billion on China, with an end goal to prevent the last from taking "licensed innovation" from American companies.

President Trump signed a memorandum directing the Office of the US Trade Representative (USTR) and the US Treasury Department to launch an 'broad range of actions' against China in such manner.

Earlier in March, the US President imposes new tariffs on steel and aluminum imports, claiming the changed levy designs have been acquainted with stop "ambush on our nation".

The new order saw a 25 percent tariff on imports of steel and a 10 percent tax on aluminum. This might potentially have huge implications on the international trade front, with many experts predicting it will adversely affect oil prices.