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ROME — The European Union and the U.S. have agreed to “pause” their commerce conflict over metal and aluminum tariffs, EU Commerce Commissioner Valdis Dombrovskis mentioned at present.
“Now we have agreed with [the United States] to pause our metal & aluminium (232) commerce dispute and launch cooperation on a World Association on Sustainable Metal & Aluminium,” Dombrovskis posted on Twitter, referring to the Part 232 duties that former U.S. President Donald Trump imposed on the grounds of nationwide safety.
EU diplomats had predicted an imminent deal on Friday, however cautioned it could solely be a brief cessation reasonably than an entire finish to hostilities. It was additionally anticipated that the events would conform to work collectively on subjects reminiscent of greener metal manufacturing and combating overcapacity in China.
Dombrovskis mentioned European Fee President Ursula von der Leyen and U.S. President Joe Biden would formally announce the deal on Sunday on the sidelines of the G20 leaders’ summit, which they’re attending in Rome.
The struggle over metal and aluminum has been a significant supply of rivalry between the EU and the U.S. since Trump imposed punitive tariffs in 2018.
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