US, EU agree to suspend Trump-era tariffs on steel, aluminium: EU Commission President

Brussels [Belgium]: The US and the European Union have reached an agreement on suspending the tariffs on steel and aluminium imposed in 2018 by then-US President Donald Trump, European Commission President Ursula Von der Leyen said on Sunday.
“We agreed to suspend the tariffs on steel and aluminium and to start … a new global sustainable steel arrangement. And this marks a milestone in the renew EU-US partnership,” Von der Leyen said at the G20 meeting in Rome. The European Commission also intends to develop proposals to suspend the reciprocal tariffs imposed on US goods following Washington’s decision on tariffs on steel and aluminium, the official added.
The tariffs imposed by the Trump administration in 2018 in a bid to change US trade policy and reduce the trade deficit largely affected a set of steel, aluminium and other European goods worth 6.4 billion euros (USD 7.4 billion). Brussels responded by introducing tariffs on various US items worth 2.8 billion euros in June 2018.

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