U.S. grants steel, aluminum relief for some trade partners: report
President Donald Trump has approved targeted relief on steel and aluminum quotas for some U.S. trade partners, Reuters reported late Wednesday. Citing the Commerce Department, Reuters said steel from South Korea, Brazil and Argentina, and aluminum from Argentina, will be granted relief on U.S. import quotas. "Companies can apply for product exclusions based on insufficient quantity or quality available from U.S. steel or aluminum producers," the Commerce Department said, according to Reuters. "In such cases, an exclusion from the quota may be granted and no tariff would be owed." Shares of Korean steelmakers, such as Hyundai Steel and Posco , shot up following the news.