U.S. Trade Representative Lighthizer has indicated to the House Ways & Means committee that Argentina, Brazil, the EU and South Korea could join Australia, Canada and Mexico in being exempt from section 232 steel and aluminum tariffs. That follows EU threats of retaliatory tariffs and also shows the importance of national security consideration in exemptions. The seven together accounted for 63% of total imports in the 12 months to January 31, with the EU being the biggest additional exemption at 16%. The challenge for the Commerce Department will be to rebalance tariffs for othe...