31.05.201821:36:00UTC+00U.S. to Move Forward with Tariffs on Steel, Aluminum Imports from Canada, EU, Mexico

The U.S. on Thursday said it was moving forward with tariffs on aluminum and steel imports from Canada, Mexico and the European Union, concluding a two-month exemption and potentially paving the way for a trade war with some of America's top allies.

Commerce Secretary Wilbur Ross told media on a telephone briefing on Thursday that a 25 percent tariff on steel imports and a 10 percent tariff on aluminum imports from the EU, Canada and Mexico would become effective at midnight on Friday.

He said that the U.S. looks forward to continue negotiations with Canada and Mexico, as well as the European Commission with regards to other issues that needs to be resolved.

Ross told reporters that talks with Canada and Mexico over overhauling the NAFTA were taking longer than they had expected. Negotiations with Europe had made some headway but not sufficient for additional exemptions, he said.

European Commission President Jean Claude-Juncker reacted to the announcement, stating that the EU will impose countermeasures on the U.S. He added that the European Commission will immediately introduce a settlement dispute with the World Trade Organization.

The newly announced tariffs are also seen to hinder negotiations between the US, Canada and Mexico on NAFTA. Both Mexico and Canada promised retaliatory tariffs in response to U.S. levies.