After last March's announcement of a truce on punitive tariffs which they had imposed on each other for several years (cf. EU/US: Towards the end of the trade war?), the European Union and the United States continue to show signs of appeasement.
On 10 May, both sides formally declared that they wished to Renewing the trade dialogue on their conflict on steel and aluminium. Brussels, which decided to increase customs duties on certain products « made in USA » from 1and June, will not finally take action. A clear signal of peace to mark the end of Trump's rough transatlantic relations.
In March 2018, Donald Trump had in fact imposed 25% duty on steel and 10% duty on aluminium from many countries including the European Union (cf. World trade: how far will American protectionism go?). Until the end of his term of office, in January 2021, the former US President had applied punitive customs sanctions against European products, in particular French and German, such as aeronautical spare parts or sparkling and cognac wines (cf. US export: new EU customs taxes).
With the WTO agreement, the EU had countered measures, including customs taxes, against many emblematic products and brands from the United States (Harley-Davidson, Levi Strauss...). 1and June, it was planned that Brussels increases customs duties up to 50%. I won't.
In a joint communiqué, the two partners pledged to resume negotiations in the coming months to resolve this trade dispute by the end of 2021.
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