The collateral damage from the White House's latest trade moves will resonate globally. U.S. President Donald Trump has signed two presidential proclamations that will place a 10 percent tariff on aluminum and a 25 percent tariff on steel starting March 23. Australia, Brazil, Canada, the European Union, Japan, Mexico and South Korea were clamoring for exemptions from the tariffs before they were signed, but the White House has offered initial exemptions for only Canada and Mexico. The exemptions for U.S. trading partners in North America are part of a broader negotiating strategy from Trump's administration. The White House has been quick to link exemptions for Canada and Mexico to the ongoing negotiations over the North American Free Trade Agreement (NAFTA), saying the exemptions will remain in place as long as NAFTA talks progress.