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U.S. to EU: Balance Digital Rules in Exchange for Reduced Steel, Aluminum Tariffs

“If they can come up with that balanced approach, which I think they can, then we will, together with them, handle the steel and aluminum issues," said Lutnick after his meeting with U.S. Trade Representative Jamieson Greer and EU ministers in Brussels. 

Prior to the meeting, European Trade Commissioner Maros Sefcovic said that while he didn’t expect any immediate breakthroughs, he believed conditions were in place with the U.S. to discuss a solution for steel.  

The U.S. has had a 50% tariff on steel and aluminum since mid-August, including derivative products such as motorcycles and refrigerators. More derivatives may be added next month, Reuters said. 

EU diplomats said that if more derivatives are added along with new possible tariffs on trucks, critical minerals, planes and wind turbines, the previous July accord may not be viable.