The U.S. and European Union have reached an agreement to settle their diplomatic rift over Trump-era steel and aluminum tariffs, the White House announced Saturday, as President Joe Biden is in Rome attending the Group of 20 summit. The Trump administration had placed taxes on EU steel and aluminum in 2018 on the claim that the foreign products produced by American allies were a threat to U.S. national security. They said that the Article 232 tariffs won’t be removed entirely but that some quantity of European steel and aluminum will be allowed to enter the U.S. without tariffs under the deal. “We were able to reach an agreement whereby the EU will drop their retaliatory tariffs (on American goods),” Raimondo said. The agreement would ensure “that all steel entering the U.S. via Europe is produced entirely in Europe,” Raimondo added.

Source: Wall Street Journal October 31, 2021 05:27 UTC