The United States and the European Union on Saturday announced a deal to ease some tariffs on steel and aluminum that were imposed by former President Donald Trump, The Wall Street Journal writes.
Commerce Secretary Gina Raimondo said Saturday that the tariffs would remain in place, but the Biden administration will let limited European products into the U.S. tariff-free. In return, the E.U. will drop retaliatory tariffs in return. "We fully expect this agreement will provide relief in the supply chain and drive down cost increases," Raimondo said.
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
-
July 8 editorial cartoonsCartoons Tuesday's political cartoons include a Trump disappearing act, trade talk uncertainty, and Elon Musk's many injuries
-
Entente cordiale: will state visit help UK-French relations get over Brexit?Today's Big Question The King, a keen Francophile who has a warm relationship with Emmanuel Macron, will play a key role in state visit
-
Israel's plan for confining all Palestinians in 'humanitarian city'The Explainer Defence minister wants to establish zone in Gaza for displaced people – which they would not be allowed to leave – prompting accusations of war crimes
-
Dollar faces historic slump as stocks hit new highSpeed Read While stocks have recovered post-Trump tariffs, the dollar has weakened more than 10% this year
-
Higher toy prices from Trump's tariffs have arrivedIn the Spotlight Three out of four toy products in the US come from China
-
Economists fear US inflation data less reliablespeed read The Labor Department is collecting less data for its consumer price index due to staffing shortages
-
'Wrench attacks' are targeting wealthy crypto mogulsThe Explainer The attacks are named for physical coercion that can be used to gain crypto passwords
-
Trump is trying to jump-start US manufacturing. Is it worth it?Today's Big Question The jobs are good. The workers may not be there.
-
Crypto firm Coinbase hacked, faces SEC scrutinySpeed Read The Securities and Exchange Commission has also been investigating whether Coinbase misstated its user numbers in past disclosures
-
Starbucks baristas strike over dress codespeed read The new uniform 'puts the burden on baristas' to buy new clothes, said a Starbucks Workers United union delegate
-
The end of WeightWatchers?Talking Point The diet brand has filed for bankruptcy in the US as it struggles to survive in era of weight-loss jabs
