EU Insists On Full Exemption From US Duties

Forex News

Jean-Claude Juncker (European Commission President) said that the EU does not intend to make concessions and accept threats in negotiations with the United States to ensure a permanent exemption from US import tariffs on steel and aluminum. "We will continue our negotiations with the United States, but we refuse to negotiate under threat," Juncker said.

The US administration decided to postpone the 30 days introduction of duties on the import of steel and aluminum in the US from Mexico, Canada and EU countries. Earlier it was planned that the tariffs would come into effect on 1 May. This decision was made to avoid a possible escalation in relations with the EU on the eve of tense trade negotiations with China this week. The EU, in turn, insists on full exemption from duties once and for all.

Earlier, the leaders of Germany, France, and Britain - Angela Merkel, Emmanuel Macron and Theresa May - said that Europe is ready to defend its own trade interests in case the US decides to impose trade duties on imports of steel and aluminum.