EU and US Reach Deal to Avoid Trump Tariff Hike
The EU and the US have reached a deal to avoid an increase in tariffs imposed by former US President Donald Trump. The agreement aims to de-escalate trade tensions between the two economic powers. Under the deal, both sides will suspend the tariffs and work towards resolving the underlying dispute over steel and aluminum exports. This move is seen as a positive step towards strengthening the transatlantic relationship and promoting free and fair trade. The deal comes as the Biden administration seeks to repair alliances and address global trade imbalances. While the details of the agreement are still being finalized, the development is expected to provide relief to businesses and consumers affected by the tariffs.
Note: This is an AI-generated summary of the original article. For the full story, please visit the source link below.
