Japan and the United States agreed to keep the current 50% tariff on steel and aluminium as part of the bilateral trade deal, Japanese public broadcaster NHK reported on Wednesday.

Steel producers like Cleveland Cliffs and Steel Dynamics both said this week that they raised prices after President Trump imposed a 50 percent tariff on imports.

TOKYO/NEW YORK -- U.S. President Donald Trump has extended the deadline to negotiate global trade deals to August 1 from July 9, giving nations a few more weeks of reprieve before so-called "reciprocal" tariff rates of up to 40% come into effect.

Japan and the United States reached a surprise trade deal on Tuesday in Washington after months of fruitless negotiations and some tense moments, with both sides taking victory laps and Japanese markets cheering the news. The United States is promoting it as the deal of the century. For Japan, it was a mission-accomplished moment.

Trump has sent letters to leaders of dozens of countries outlining the tariff levels set to begin on Aug. 1. In recent months, Trump has rolled back some of his steepest tariffs, meaning delays could be possible in the case of the Aug. 1 deadline. The Trump administration appears to have stood largely behind the deadline in recent days, however.

US tariffs on steel and aluminum doubled to 50% as of 12:01 am ET on Wednesday, a move cheered by the beleaguered US steel industry but decried by heavy users of the metals, from car makers to can ...

Downing Street would not say whether the Government was confident that a deal to eliminate American tariffs on UK steel would be struck as Donald Trump’s deadline looms. The US president has said he plans to start implementing tariffs on the US’s trade ...

Steel Dynamics navigates short-term challenges with tariff support, a strong backlog, and share buybacks, offering 11% return potential. See more on STLD here.

Prime Minister Mark Carney on Wednesday said Canada will introduce a tariff rate quota for countries with which it has free trade agreements, excluding the United States, to protect the domestic steel industry.

Copper production in the US is unlikely to get a significant boost from the recently announced US tariffs, according to the ING Group.

(CNN) -- US tariffs on steel and aluminum doubled to 50% as of 12:01 am ET on Wednesday, a move cheered by the beleaguered American steel industry but worrisome to sectors that heavily use the ...

President Trump on Tuesday said the US had reached a trade deal with the Philippines, which will see the country's imports face a 19% tariff into the US. Trump said US exports will face no import tax in the Philippines as part of the deal.