EU said they will temporarily suspend the increase of its rebalancing measures on the US 232 steel and aluminum tariffs, imposed during the era of former US President Donald Trump. EU said, “this gives us space to find joint solutions to this dispute and tackle global excess capacity”.
In the joint statement, EU Executive Vice President Dombrovskis, US Trade Representative Katherine Tai and Secretary of Commerce Gina Raimondo, said, “as the United States and EU Member States are allies and partners, sharing similar national security interests as democratic, market economies, they can partner to promote high standards, address shared concerns, and hold countries like China that support trade-distorting policies to account.”
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