US delays reciprocal tariffs deadline to August 1
The US has postponed its previously announced deadline for imposing country-specific reciprocal tariffs, extending it from July 9 to August 1, according to several media reports.
This decision has provided a short but significant window for US trading partners such as Japan, South Korea, and the EU to finalize trade agreements that could soften or eliminate the planned tariffs. The delay is seen as a diplomatic move that may reduce trade tensions and foster ongoing negotiations – especially with the EU, which has warned of retaliatory countermeasures should talks fail.
Recently, the US sent letters to 14 countries, including Japan and South Korea, announcing new reciprocal tariffs of up to 40 percent, in addition to existing sector-specific tariffs on steel and automotive products, as SteelOrbis previously reported.
The US has already secured deals with the UK, China, and Vietnam, signaling a pattern that may encourage others to come to the table before the August 1 deadline.
France’s steel trade value declines in Jan–Feb
According to the statistics released by the French Ministry of Economy, Finance and Industry, in the January-February period this year France’s basic steel product and ferroalloy imports amounted to a value of €1.54 billion, decreasing by 12.4 percent year on year.
In the given period, France imported €329.28 million of steel pipes and tubes – down 9.6 percent, €87.73 million of cold rolled steel bars – down by 0.9 percent, €114.09 million of cold rolled steel strip – dropping by 10.5 percent, €82.37 million of cold drawn wire – falling by 6.6 percent, and €431.13 million of metal structures and parts – decreasing by 8.3 percent, all compared to the same period of 2024.
Exports
In the January-February period, France’s basic steel product and ferroalloy exports amounted to a value of €1.62 billion, decreasing by 3.8 percent year on year.
In the given period, France exported €210.28 million of steel pipes and tubes – down 5.5 percent, €75.12 million of cold rolled steel bars – down by 4.9 percent, €94.43 million of cold rolled steel strip – down 32.3 percent, €50.55 million of cold drawn wire – decreasing by 10.9 percent, and €141.13 million of metal structures and parts – up by 1.9 percent, all compared to the same period of 2024.