President Donald Trump will not apply new steel and aluminum tariffs to the European Union and other trading partners that are currently negotiating exemptions, at least temporarily, Reuters reported last week.

U.S. Trade Representative Robert Lighthizer said the president was negotiating exemptions with Canada, Mexico, the EU, Australia, Argentina, Brazil and South Korea.

Trump has given the EU and the other major trading partners a reprieve until May 1 from the 25 percent tariff on steel and the 10...