
Trump imposed tariffs of 25% on EU steel imports and 10% on aluminum imports.
The European Union and the United States have agreed to park their dispute over steel and aluminum, European Commission (EC) Vice-President and Trade Commissioner Valdis Dombrovskis announced Saturday.
"We have agreed with the United States to pause our trade dispute on steel and aluminum and launch cooperation on a global agreement on sustainable steel and aluminum," Dombrovskis said on his Twitter account.
"Our agreement will be announced tomorrow by European Commission President Ursula von der Leyen and U.S. President Joe Biden," added Dombrovskis
We have agreed with 🇺🇸 to pause our steel & aluminium (232) trade dispute and launch cooperation on a Global Arrangement on Sustainable Steel & Aluminium.
Our agreement will be announced by @vonderleyen and @POTUS tomorrow. pic.twitter.com/FDSrZ3U1Nx-Valdis Dombrovskis (@VDombrovskis) October 30, 2021
The trade relationship between the European Union and the United States deteriorated during the term of office of former President Donald Trump, in particular following the imposition of tariffs of 25% on EU steel imports and 10% on aluminum imports.
To the measures imposed by Trump, the EU responded with its own batch of tariffs on several U.S. products, including bourbon whiskey, peanut butter, cranberries or orange juice.
The two blocs had been trying for months to reach an understanding to resolve the steel and aluminum dispute.
Contacts intensified after the EU and the United States reached an agreement last June on the battle over illegal state aid to U.S. aircraft manufacturer Boeing and Europe's Airbus, the longest-running dispute at the World Trade Organization (WTO).
The two then agreed to suspend for five years their countervailing tariffs, valued at up to 11.5 billion euros.
via EL Español