The US President postponed the introduction of duties on steel for the EU and several other countries until June 1

US President Donald Trump has postponed the introduction of tariffs on steel and aluminum across the European Union, Mexico and Canada until June 1, pending negotiations with them, the White House said in a statement.

According to the statement, the administration has reached agreements in principle with Argentina, Australia and Brazil. Details "will be completed shortly," added in a White House statement. The US has also introduced a 30-day grace period on tariffs for the EU, Canada and Mexico to allow for further negotiations.

“In all of these negotiations, the administration is focusing on quotas that will deter imports, prevent congestion and protect national security. These agreements highlight the Trump administration's successful strategy to achieve fair results with allies to protect our national security and address global challenges for the metals and aluminum industries, ”the statement said.

Trump imposed a 25 percent tariff on steel imports and a 10 percent duty on aluminum in March after a government report showed foreign shipments of metals threatened national security interests. He directed US Trade Representative Robert Lighthhaser to negotiate with countries seeking to make their temporary tariff concessions permanent.

The president's decision to postpone tariffs provides respite for allies in the military bloc seeking permanent tariff exemptions. This can be seen as a gesture of goodwill for Canadian and Mexican negotiators who are in talks with the United States to renegotiate the North American Free Trade Agreement.