This will be the end of a long-running controversy affecting not only steelmakers but also cheesemakers and motorcycle builders: the European Union and the United States By the end of the year I would like to see a solution to their conflict regarding special tariffs on steel and aluminum imports. The aim is to show that the overcrowding problem can be handled together, both sides said in a statement. Excessive skills are acknowledged to be mainly caused by third parties. Like China, countries pursuing trade-destructive policies can be held collectively accountable.
In 2018, then-US President Donald Trump provoked the current trade dispute between the European Union and the United States. He had introduced special tariffs on steel and aluminum imports. The EU responded by retaliating against American products such as jeans, bourbon whiskey, motorcycles and peanut butter. Trump had justified special tariffs “with national security interests.” However, the EU considers this to be unreliable and aims to protect the US economy from undue competition.
A spokesman for the European Commission (EU) has announced that it will suspend the EU’s planned retaliation on June 1. The joint statement said the two sides agreed to avoid changes in issues that could negatively affect trade.