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The EU needs to work towards a full resolution of the issue, said Bernd Lange, head of the European Parliament's international trade committee.
"I am very pleased that the United States will remove most of its duties under (section - ed.) 232 on steel and aluminium to historic trade volumes... While section 232 duties will not be completely removed, their partial removal is an important step towards de-escalation and shows that this administration is committed to working with us," the EP press office said.
The US announced that it would no longer apply duties from the so-called "Section 232" on a certain volume of steel and aluminium shipments from the EU as part of "tariff quotas".
These quotas are equal to "the historical volume of steel and aluminium exports from the EU to the US", the European Commission said in a statement. This is the volume of steel and aluminium that was supplied to the US from the union before the duties were introduced in 2018, the EC explains.
Lange notes that the EU should work "to fully resolve this unfortunate dispute created by the previous US government".
The head of the committee believes that these duties are illegal and clearly contrary to WTO rules. In addition, they have severely damaged many economic sectors on both sides of the Atlantic, said Lange.
US duties have been imposed since June 2018 on €6.4 billion of European steel and aluminium exports. Additional tariffs, applied from February 2020, affected around €40 million more of EU exports.
source: ec.europa.eu
"I am very pleased that the United States will remove most of its duties under (section - ed.) 232 on steel and aluminium to historic trade volumes... While section 232 duties will not be completely removed, their partial removal is an important step towards de-escalation and shows that this administration is committed to working with us," the EP press office said.
The US announced that it would no longer apply duties from the so-called "Section 232" on a certain volume of steel and aluminium shipments from the EU as part of "tariff quotas".
These quotas are equal to "the historical volume of steel and aluminium exports from the EU to the US", the European Commission said in a statement. This is the volume of steel and aluminium that was supplied to the US from the union before the duties were introduced in 2018, the EC explains.
Lange notes that the EU should work "to fully resolve this unfortunate dispute created by the previous US government".
The head of the committee believes that these duties are illegal and clearly contrary to WTO rules. In addition, they have severely damaged many economic sectors on both sides of the Atlantic, said Lange.
US duties have been imposed since June 2018 on €6.4 billion of European steel and aluminium exports. Additional tariffs, applied from February 2020, affected around €40 million more of EU exports.
source: ec.europa.eu
