Forex Trading For Beginners 2021: The US and EU reached an agreement on steel over the weekend

Sunday 31 October 2021

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SDNY+11

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The US and the EU have reached an arrangement for trade in low-carbon steel and aluminium.

Tariffs were levied on EU steel and aluminium by the previous US administration
Some tariffs will be maintained but "limited volumes" of EU-produced metals can be brought into the US duty free.

The agreement requires EU steel and aluminum to be entirely produced in the bloc - a standard known as "melted and poured" - to qualify for duty-free status. The provision is aimed at preventing metals from China and non-EU countries from being minimally processed in Europe before export to the United States