US extends negotiations on steel tariffs

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The US has postponed the imposition of steel and aluminium tariffs on Canada the EU and Mexico until June 1.

Talks will continue for another 30 days.

It has also reached agreements on permanent exemptions for Argentina, Australia and Brazil.

In March, Donald Trump imposed global tariffs of 25% on US imports of steel and 10% on aluminium.

This has increased friction between the US and its trading partners.

The EU, meanwhile, says it fully expects a "permanent and unconditional" exemption soon or it will launch a series of countermeasures.