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Steel dispute: EU seeks resolution with US before summit

Steel dispute: EU seeks resolution with US before summit

Shortly before the economic summit with the US, the EU is looking for a solution to the dispute over special US tariffs on European steel and aluminum imports. Commission Vice President Valdis Dombrovskis said on Tuesday that the European Union may orient itself on the North American Minerals Agreement between the United States, Canada and Mexico.

In May 2019, the US government eliminated special duties on steel and aluminum imports from Canada and Mexico after reaching an agreement. The trade summit is scheduled for Wednesday. The United States and the European Union are striving to improve their transatlantic relations once again. Time was running out due to deadlines running out at the end of November, warned Dombrovskis, who is also the EU’s trade commissioner. So an agreement must be reached by the beginning of November.

In June, the US and EU agreed to find a solution to US tariffs on steel and aluminum from Europe by the end of the year. The United States imposed special tariffs in March 2018. Former President Donald Trump argued at the time that increased imports threatened the national security of the United States. The European Union responded with retaliatory tariffs on US products such as jeans, whiskey, motorcycles and peanut butter.