WASHINGTON, Oct 31 — The United States and European Union 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 said...
WASHINGTON, Oct 31 — The United States and European Union 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 said on Saturday.
US officials did not specify the volume of duty-free steel to be allowed into the United States under a tariff-rate quota system agreed upon with the EU. Sources familiar with the deal, speaking on condition of anonymity, have said annual volumes above 3.3 million tonnes would be subject to tariffs. “The agreement ultimately to negotiate a carbon-based arrangement on steel and aluminium trade addresses both Chinese overproduction and carbon intensity in the steel and aluminium sector,” White House National Security Adviser Jake Sullivan told reporters, adding that the climate and workers can be protected at the same time.
The deal will eliminate Europe’s retaliatory tariffs against US products including bourbon whiskey, Harley-Davidson motorcycles and motor boats that were set to double on Dec. 1, US officials said.
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