The European Union breathed a sigh of relief after avoiding US tariffs on steel and aluminum imports, sources confirmed yesterday.
The move came after months of tense negotiations between Washington and Brussels over trade restrictions. The EU had faced the possibility of being hit with levies on its exports to the US, sparking concerns about the impact on European businesses and consumers.
A deal was reached late last week, with both sides agreeing to a compromise that would have avoided tariffs on certain EU products. However, it appears that the agreement did not extend to all EU goods, leaving some uncertainty about the outcome for affected industries.
The news has been met with relief by EU officials and business leaders, who had feared the tariffs could lead to a significant economic hit.
Source: https://www.ft.com/content/0d3be29f-db87-4496-9501-686f1a10f515