Industry News

EU and US Agree to Fix Trade Barriers

EU and US agree to fix Steel and Aluminum Tariffs

President Donald Trump and European Commission President Jean-Claude Juncker agreed on July 25, 2018 to work together to ease tension and trade barriers between the two economies.  According to American Shipper, “Amid trade tensions, the leaders of the United States and European Commission on Wednesday agreed to work toward no tariffs in non-automotive industrial goods, seek to resolve current global steel and aluminum tariffs, and hold off on imposing any new tariffs as long as their countries remain in negotiations, among other things.”

Both parties will “reassess” tariffs imposed on each country, as well as work together to “close dialogue on standards in order to ease trade, reduce bureaucratic obstacles and slash costs dramatically.”

 

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