On Thursday, 28 December 2023, US President Joe Biden extended the suspension of tariffs on European Union steel and aluminium for the next two years. This decision arrived after the EU announced a suspension of the rebalancing tariffs on US products until March 2025, in the context of the steel and aluminium tariff trade dispute. This is a positive development as the deadline for the reintroduction of the measures was fast approaching. The EU and the US agreed to a two-year pause in 2021. A tit-for-tat between the EU and the US would hurt jobs, prosperity and security on both sides of the Atlantic. We hope that these decisions encourage the transatlantic partners to reach an agreement on this dispute and remove reciprocal tariffs fully and permanently in the coming months.

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