The US and EU have reached a deal to end a long-standing dispute over steel and aluminum tariffs set by former US President Donald Trump, European Commission President Ursula von der Leyen announced at the G20 Summit in Rome.
According to US Commerce Secretary Gina Raimondo, the new agreement will allow “a limited amount of steel and aluminum from the EU to be imported into the US duty-free,” while maintaining tariffs of 25% on steel and 10% on aluminum for some imports.
Officials did not specify the volume of duty-free metals to be allowed into the US under the new deal, but Reuters sources claimed that annual volumes below 3.3 million tons would be freed from tariffs.