EU to temporarily suspend tariffs on some U.S. goods

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The European Union and the United States took a step toward a post-Trump trade truce and agreed to hold talks to end a tit-for-tat feud over steel and aluminum tariffs on May 17, 2021. /CFP

The EU announced on Monday that it will temporarily suspend the increase of its rebalancing measures on U.S. 232 steel and aluminum tariffs.

"This gives us space to find joint solutions to this dispute & tackle global excess capacity," European Commission Executive Vice-President Valdis Dombrovskis said on Twitter.

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