Overview

• President Donald Trump’s June 4 directive raised tariffs on imported steel and aluminum from 25% to 50% under a national security justification.
• EU Commissioner Maros Sefcovic described his meeting with U.S. Trade Representative Jamieson Greer as productive and set sights on a negotiated deal by early July.
• Mexico’s economy secretary confirmed it will seek an exemption from the new duties while the U.K. remains at a 25% rate under its bilateral agreement.
• The Union of Steel Enterprises reported immediate cancellations of European steel orders and warned of multibillion-euro losses and market distortions.
• The U.S. Trade Representative’s office sent partners a reminder that reciprocal tariffs will be applied if no agreement is reached by the negotiation deadline.