Trump plans to go ahead with EU tariffs

Europe is bracing itself for the US to announce restrictions on imported steel and aluminium, which could come as early as Thursday.

US President Donald Trump plans to go ahead with his threat to impose import tariffs on European steel and aluminium, the Wall Street Journal has reported.

The US had been expected to decide by Friday whether to give EU countries a permanent exemption from the tariffs of 25 per cent on steel and 10 per cent on aluminium products.

The Journal, citing people familiar with the matter, reported a decision could come as soon as Thursday and Washington would let a temporary exemption for the EU lapse.

But it also cited another person familiar with the matter saying a last-minute deal was still possible, though talks this week between EU Trade Commissioner Cecilia Malmstrom and US Commerce Secretary Wilbur Ross had made no progress.

Trump on March 23 imposed a 25 per cent tariff on steel imports and a 10 per cent tariff on aluminium but granted temporary exemptions to Canada, Mexico, Brazil, the EU, Australia and Argentina.

Australia has since confirmed it is exempt from the metals crackdown.

Trump also granted a permanent exemption on steel tariffs to South Korea.