US, EU end Trump-era tariff war over steel and aluminum | The Business Standard
Skip to main content
  • Latest
  • Economy
    • Banking
    • Stocks
    • Industry
    • Analysis
    • Bazaar
    • RMG
    • Corporates
    • Aviation
  • Videos
    • TBS Today
    • TBS Stories
    • TBS World
    • News of the day
    • TBS Programs
    • Podcast
    • Editor's Pick
  • World+Biz
  • Features
    • Panorama
    • The Big Picture
    • Pursuit
    • Habitat
    • Thoughts
    • Splash
    • Mode
    • Tech
    • Explorer
    • Brands
    • In Focus
    • Book Review
    • Earth
    • Food
    • Luxury
    • Wheels
  • Subscribe
    • Epaper
    • GOVT. Ad
  • More
    • Sports
    • TBS Graduates
    • Bangladesh
    • Supplement
    • Infograph
    • Archive
    • Gallery
    • Long Read
    • Interviews
    • Offbeat
    • Magazine
    • Climate Change
    • Health
    • Cartoons
  • বাংলা
The Business Standard

Sunday
July 13, 2025

Sign In
Subscribe
  • Latest
  • Economy
    • Banking
    • Stocks
    • Industry
    • Analysis
    • Bazaar
    • RMG
    • Corporates
    • Aviation
  • Videos
    • TBS Today
    • TBS Stories
    • TBS World
    • News of the day
    • TBS Programs
    • Podcast
    • Editor's Pick
  • World+Biz
  • Features
    • Panorama
    • The Big Picture
    • Pursuit
    • Habitat
    • Thoughts
    • Splash
    • Mode
    • Tech
    • Explorer
    • Brands
    • In Focus
    • Book Review
    • Earth
    • Food
    • Luxury
    • Wheels
  • Subscribe
    • Epaper
    • GOVT. Ad
  • More
    • Sports
    • TBS Graduates
    • Bangladesh
    • Supplement
    • Infograph
    • Archive
    • Gallery
    • Long Read
    • Interviews
    • Offbeat
    • Magazine
    • Climate Change
    • Health
    • Cartoons
  • বাংলা
SUNDAY, JULY 13, 2025
US, EU end Trump-era tariff war over steel and aluminum

World+Biz

Reuters
31 October, 2021, 10:05 am
Last modified: 31 October, 2021, 10:12 am

Related News

  • 35% tariff: Bangladesh, US 'reach general consensus on some issues' on second day of talks; final round today
  • Tariff implications: What does Trump actually want to achieve?
  • What Hitler’s tariff policy misfire can teach the modern world
  • US remains Bangladesh’s top export destination
  • Trump's tariffs: What's in effect and what could be in store?

US, EU end Trump-era tariff war over steel and aluminum

The deal grants an additional two years of duty-free access above the quota for EU steel products that won Commerce Department exclusions in the past year, US officials said

Reuters
31 October, 2021, 10:05 am
Last modified: 31 October, 2021, 10:12 am
Steam rolls off a slab of steel as it rolls down the line at the Novolipetsk Steel PAO steel mill in Farrell, Pennsylvania, US, March 9, 2018. Photo :Reuters
Steam rolls off a slab of steel as it rolls down the line at the Novolipetsk Steel PAO steel mill in Farrell, Pennsylvania, US, March 9, 2018. Photo :Reuters

The United States and European Union have agreed to end a festering dispute over US steel and aluminum tariffs imposed by former President Donald Trump in 2018, removing an irritant in transatlantic relations and averting a spike in EU retaliatory tariffs, US officials said on Saturday.

Commerce Secretary Gina Raimondo told reporters that the deal will maintain US "Section 232" tariffs of 25% on steel and 10% aluminum, while allowing "limited volumes" of EU-produced metals into the United States duty free.

It eliminates a source of friction between the allies and lets them focus on negotiating a new global trade agreement to address worldwide excess steel and aluminum capacity mainly centered in China and reduce carbon emissions from the industries.

The Business Standard Google News Keep updated, follow The Business Standard's Google news channel

EU trade chief Valdis Dombrovskis confirmed the deal, writing on Twitter that "we have agreed with US to pause" the trade dispute and launch cooperation on a future global arrangement on sustainable steel and aluminum. Dombrovskis said the deal will be formally announced by Biden and European Commission President Ursula von der Leyen on Sunday.

US officials did not specify the volume of duty-free steel to be allowed into the United States under a tariff-rate quota system agreed upon with the EU. Sources familiar with the deal, speaking on condition of anonymity, have said annual volumes above 3.3 million tons would be subject to tariffs.

The deal grants an additional two years of duty-free access above the quota for EU steel products that won Commerce Department exclusions in the past year, US officials said.

The agreement requires EU steel and aluminum to be entirely produced in the bloc - a standard known as "melted and poured" - to qualify for duty-free status. The provision is aimed at preventing metals from China and non-EU countries from being minimally processed in Europe before export to the United States.

Europe exported  around 5 million tons of steel annually to the United States prior to Trump's imposition of the tariffs on national security grounds.

"The agreement ultimately to negotiate a carbon-based arrangement on steel and aluminum trade addresses both Chinese overproduction and carbon intensity in the steel and aluminum sector," White House National Security Adviser Jake Sullivan told reporters, adding that the climate and workers can be protected at the same time.

US steel production, which relies heavily on electric-arc furnaces, is regarded as having far lower carbon emissions than the coal-fueled blast furnaces prevalent in China.

Biden has sought to mend fences with European allies following Trump's presidency to more broadly confront China's state-driven economic practices that led to Beijing building massive excess steelmaking capacity that has flooded global markets.

The deal will eliminate Europe's retaliatory tariffs against US products including bourbon whiskey, Harley-Davidson motorcycles and motor boats that were set to double on Dec. 1, US officials said.

"The end of this long tariff nightmare is in sight for US distillers, who have struggled with the weight of the tariffs and the pandemic," Distilled Spirits Council President Chris Swonger said, also urging Britain to lift its tariff on American whiskeys.

RECORD STEEL PRICES

Raimondo said the deal will reduce costs for steel-consuming US manufacturers. Steel prices have more than tripled in the past year to records topping $1,900 a ton as the industry has struggled to keep up with a demand surge after Covid-19 pandemic-related shutdowns, contributing to inflation.

US primary aluminum producers, which had dwindled to two companies by the time Trump imposed the tariffs, will be able to maintain their investments in reviving domestic capacity because the quotas are set at very low levels, well below pre-tariff volumes, said Mark Duffy, CEO of the American Primary Aluminum Association industry group.

American Iron and Steel Institute President Kevin Dempsey said the quota arrangement will help "prevent another steel import surge that would undermine our industry and destroy good-paying American jobs."

"We urge the US and EU to take active steps to hold China and other countries that employ trade-distorting policies to account," Dempsey added. "We also believe US-EU cooperation should focus on new trade approaches to address climate change, including through development of effective carbon border adjustment measures."

Due to its exit from the EU, Britain's steel exports remain subject to the tariffs, as are those of other US allies including Japan. The US Chamber of Commerce, which opposed the metals tariffs from the start, said the duties and quotas should be dropped from "close allies."

US / EU / Trump / Aluminium

Comments

While most comments will be posted if they are on-topic and not abusive, moderation decisions are subjective. Published comments are readers’ own views and The Business Standard does not endorse any of the readers’ comments.

Top Stories

  • BNP Secretary General Mirza Fakhrul Islam Alamgir speaks at a book unveiling event in Dhaka on 13 July 2025. Photo: Collected
    Fakhrul alleges conspiracy to eliminate Tarique from politics
  • Representational image. Photo: Mohammad Minhaj Uddin/TBS
    Ctg Port container handling boosted by Navy-run Dry Dock takeover
  • TBS Sketch
    Framework agreement: What experts say about US 'security concerns' regarding Bangladesh

MOST VIEWED

  • RAB Director General AKM Shahidur Rahman speaks at the press briefing on a fake bomb threat on Biman Bangladesh flight on Saturday, 12 July 2025. Photo: TBS
    Mother faked bomb threat on Biman flight to stop married son from flying with girlfriend: RAB
  • Bangladeshi garment workers make clothing in the sewing section of a factory in Gazipur, Bangladesh, April 9, 2025. Photo: REUTERS/Mohammad Ponir Hossain/File Photo
    Some Walmart garment orders from Bangladesh on hold due to US tariff threat
  • Infographic: TBS
    Dollar price plummets by Tk2.9 in a week as demand wanes
  • Bangladesh and US hold tariff talks on 11 July 2025. Photo: CA Press Wing
    Dhaka, Washington yet to agree on 20% of US tariff conditions: BGMEA
  • Infograph: TBS
    Matarbari power plant eyes G2G coal deal with Indonesia after quality setbacks
  • Dr Mohammad Zakir Hossain, managing director of Delta Pharma Ltd and secretary general of the Bangladesh Association of Pharmaceutical Industries (BAPI). Sketch: TBS
    Pharma industry grew with policy support, needs it again to survive: BAPI secretary general

Related News

  • 35% tariff: Bangladesh, US 'reach general consensus on some issues' on second day of talks; final round today
  • Tariff implications: What does Trump actually want to achieve?
  • What Hitler’s tariff policy misfire can teach the modern world
  • US remains Bangladesh’s top export destination
  • Trump's tariffs: What's in effect and what could be in store?

Features

Photo: Collected

Grooming gadgets: Where sleek tools meet effortless styles

4h | Brands
The 2020 Harrier's Porsche Cayenne coupe-like rear roofline, integrated LED lighting with the Modellista special bodykit all around, and a swanky front grille scream OEM Plus for the sophisticated enthusiast looking for a bigger family car that isn’t boring. PHOTO: Ahbaar Mohammad

2020 Toyota Harrier Hybrid: The Japanese Macan

1d | Wheels
The showroom was launched through a lavish event held there, and in attendance were DHS Motors’ Managing Director Nafees Khundker, CEO Imran Zaman Khan, and GMs Arman Rashid and Farhan Samad. PHOTO: Akif Hamid

GAC inaugurate flagship showroom in Dhaka

1d | Wheels
After India's visa restriction, China's Kunming is drawing Bangladeshi patients

After India's visa restriction, China's Kunming is drawing Bangladeshi patients

2d | Panorama

More Videos from TBS

News of The Day, 13 JULY 2025

News of The Day, 13 JULY 2025

1h | TBS News of the day
Countries where Bangladeshis are not getting positive responses to their visa applications

Countries where Bangladeshis are not getting positive responses to their visa applications

42m | TBS Stories
Has Trump's view on the Russia-Ukraine war changed?

Has Trump's view on the Russia-Ukraine war changed?

2h | Others
How tender rules and a lone bidder stall a $2.5b power plant

How tender rules and a lone bidder stall a $2.5b power plant

3h | TBS Insight
EMAIL US
contact@tbsnews.net
FOLLOW US
WHATSAPP
+880 1847416158
The Business Standard
  • About Us
  • Contact us
  • Sitemap
  • Advertisement
  • Privacy Policy
  • Comment Policy
Copyright © 2025
The Business Standard All rights reserved
Technical Partner: RSI Lab

Contact Us

The Business Standard

Main Office -4/A, Eskaton Garden, Dhaka- 1000

Phone: +8801847 416158 - 59

Send Opinion articles to - oped.tbs@gmail.com

For advertisement- sales@tbsnews.net