European Parliament backs trade pact with US steel derivative curbs

The European Parliament and Council reached a provisional agreement May 20 on two pieces of legislation implementing EU tariff commitments under the August 2025 EU-US joint statement that includes a sunset clause expiring by the end of 2029 and provisions allowing Brussels to suspend tariff preferences if Washington maintains high duties on steel and aluminum derivatives. The agreement strengthensThe European Parliament and Council reached a provisional agreement May 20 on two pieces of legislation implementing EU tariff commitments under the August 2025 EU-US joint statement that includes a sunset clause expiring by the end of 2029 and provisions allowing Brussels to suspend tariff preferences if Washington maintains high duties on steel and aluminum derivatives. The agreement strengthensRead More