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US and EU reach peace deal on Trump-era tariffs on steel and aluminium
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The US and EU have agreed to end a festering dispute over US steel and aluminium tariffs imposed by former president Donald Trump in 2018, removing an irritant in transatlantic relations and averting a spike in EU retaliatory tariffs, US officials have said.
Commerce secretary Gina Raimondo told reporters on Saturday that the deal would maintain US section 232 tariffs of 25% on steel and 10% aluminium, while allowing “limited volumes” of EU-produced metals into the US duty free.
It eliminates a source of friction between the allies and lets them focus on negotiating a new global trade agreement to address worldwide excess steel and aluminium capacity, mainly centred in China, and reduce carbon emissions from the industries.
EU trade chief
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