EU aims to end trade dispute with U.S.

The U.S. tariffs, that are currently exempted, on EU’s exports of aluminum and steel to the U.S., are set to end on June 1.

On Monday, Peter Altmaier, Germany’s Economy Minister disclosed Germany aims to end a trade dispute between the U.S. and the E.U. over the imposition of stiff tariffs on aluminum and steel by U.S. President Donald Trump.

Altmaier stated he will discuss the matter with Cecilia Malmstrom, EU’s Trade Commissioner and U.S. Commerce Secretary Wilbur Ross at a meeting of the Organization for Economic Co-operation and Development (OECD) in Paris this week.

“We need to try to avoid higher tariffs,” said Altmaier.

In March, Trump had imposed a tariff of 25% on steel imports and 10% tariff on aluminum imports; however, the U.S. had exempted the EU from such tariffs up to June 1.

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