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we've got a deal

U.S., E.U. reach deal easing steel, aluminum tariffs

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.

European Trade Commissioner Valdis Dombrovskis tweeted confirmation of the agreement, which came during the two-day Group of 20 summit in Italy. White House national security adviser Jake Sullivan said the deal removes "one of the largest bilateral irritants in the U.S.-E.U. relationship."