EU and US end metals tariffs amid global trade tensions

Image copyright AFP/Getty Images Image caption The trade spat between the US and Europe was seen as having damaged a fragile truce in global trade disputes US and European trade officials have agreed to…

EU and US end metals tariffs amid global trade tensions

Image copyright AFP/Getty Images Image caption The trade spat between the US and Europe was seen as having damaged a fragile truce in global trade disputes

US and European trade officials have agreed to halt the introduction of tariffs on steel and aluminium.

Their joint move follows a threat by European Commission President Jean-Claude Juncker to withdraw from the world trade order unless the US gave up duties on European products.

The trade row is seen as having damaged a fragile truce in global trade disputes that were recently reached by President Donald Trump and China’s Xi Jinping.

The US is a net exporter of aluminium and steel but has imposed tariffs of 25% on all steel and 10% on aluminium from the European Union and a number of other countries.

Mr Juncker said the end of the tariffs was “the best solution for everyone”.

‘Unequivocal failure’

Trade commissioner Cecilia Malmstrom told reporters: “I welcome that we have reached a strong joint position from the end of tariffs on steel and aluminium … Without tariffs there is no trade war.

“I am delighted that we have succeeded today in keeping intact a compromise deal which involved significant compromises by both sides.”

Image copyright AFP/Getty Images Image caption EU trade chief Cecilia Malmstrom hailed the tariff dispute as a “united effort from all sides”

EU Trade Commissioner Cecilia Malmstrom hailed the tariff dispute as a “united effort from all sides” and said the EU had “great respect for the strength of the American economy”.

Mr Juncker, who described the talks as a “seminal agreement”, said he “didn’t expect a breakthrough today”.

But he added: “Nobody, no-one should have high expectations.”

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