EU and US Pause Steel Tariff War Until After Elections
- Bloc fails to make duty-free quota system more flexible
- Agreement comes as partners negotiate permanent metals deal
Rolls of steel in Germany.
Photographer: Alex Kraus/BloombergThis article is for subscribers only.
The European Union and the US will extend a truce on steel and aluminum imports, avoiding a possible return of billions of dollars in tariffs on transatlantic commerce.
The European Commission, the EU executive’s arm, announced on Tuesday it will suspend retaliatory measures implemented during the Trump presidency for 15 months, until March 31, 2025. Brussels, however, did not convince Washington to improve its current tariff-rate quotas, or TRQs, above which duties are applied.