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U.S. postpones steel tariff decision for U.S. allies until June 1


WASHINGTON (Reuters) - President Donald Trump has postponed a decision on imposing steel and aluminum tariffs on Canada, the European Union and Mexico until June 1, and has reached an agreement in principle with Argentina, Australia and Brazil, a source familiar with the decision said on Monday.

Trump imposed a 25 percent tariff on steel imports and a 10 percent tariff on aluminum in March, but granted temporary exemptions to Canada, Mexico, Brazil, the European Union, Australia and Argentina. The temporary exemptions were due to expire at 12:01 a.m. ET (0401 GMT) on Tuesday.

(Reporting by David Lawder; Editing by Sandra Maler)