Get A Quote
Get A Quote

News & Events

The European Union agreed to avoid escalating its dispute with the U.S. over metal tariffs, sparing iconic products such as bourbon whiskey and Harley Davidson motorbikes from a doubling of EU duties next month.

At issue is a high-profile disagreement that started in 2018 when former U.S. President Donald Trump imposed duties on steel and aluminum from Europe, Asia and elsewhere citing risks to national security. The EU has since retaliated and tariffs on a range of American products were set to jump to 50% on June 1.

Under the agreement with the Biden administration, the EU will refrain from increasing those tariffs and both sides will engage in a dialog about overcapacity in the steel industry, according to a tweet from EU Commissioner Valdis Dombrovskis. Negotiators on both sides of the Atlantic are working to eventually remove the tariffs but are not yet ready to do so, officials have said.

Source: AJOT