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U.S., EU expected to announce deal ending steel, aluminum tariff dispute, sources say -Breaking

by Mike Robinson

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© Reuters. FILEPHOTO: A member the Ironworkers Local 7 union erects steel beams for a high rise building in Boston (Massachusetts, U.S.A.) June 30, 2021. REUTERS/Brian Snyder/File Photo

WASHINGTON, (Reuters) – The United States of America and the European Union will announce a settlement to a trade dispute regarding U.S. aluminum and steel tariffs. This announcement could be made as soon as Saturday according to five sources familiar with it.

Sources said that the agreement, which details were still being worked out, would enable EU countries, including the United States, to send a total of 3.3 million tonnes of steel each year duty-free to the United States. It was based on a tariff-rate system.

The tariff would apply to higher import volumes of steel, although certain products from steel that have won exemptions from U.S. duties in the past year will still be exempted, according to sources.

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