Home » Brussels suspends tariffs, US-EU dialogue on steel and aluminum

Brussels suspends tariffs, US-EU dialogue on steel and aluminum

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Confirming the desire to improve relations with the US, the EU Commission announced that it had suspended the wait for the retaliatory measures against US tariffs in the steel and aluminum sector dating back to 2018. At the same time, the parties they decided to open negotiations to resolve the issue of overcapacity in the steel industry. The announcement comes one month after President Joe Biden’s visit to Brussels.

“Our decision to temporarily suspend the automatic increase in rebalancing measures against US tariffs on steel and aluminum shows that we are serious in wanting to restart the transatlantic relationship – explained in a statement the vice president of the community executive Valdis Dombrovskis. -. This decision reflects our determination to find joint solutions that are effective in resolving this dispute ”.

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In 2018, unilaterally, the then US President Donald Trump had introduced unexpected tariffs against steel and aluminum imports from the EU and other countries. In response, the European Commission had decided on retaliatory measures in stages. A first battery of measures, among other things against motorbikes and whiskey, came into effect three years ago; a second tightening was to be adopted on 1 June next.

Brussels has now announced a suspension of up to six months of this second battery of measures. The first round of measures will remain in force, as will the tariffs introduced at the time by the Trump administration (25% on steel and 10% on aluminum). The latter had justified the choice by citing reasons of national security and a distant law of 1962. A justification that the European Commission has never accepted.

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In a joint statement, Washington and Brussels emphasized market distortions caused by global overcapacity in the steel and aluminum sector. The parties “have agreed that, since the United States and the Member States of the Union are allies and partners (…) they can work together to promote high standards, address common concerns and demand accountability from countries such as China that support policies of distortion of business“.

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