EU-U.S. Trade Talks: Bridging the Tariff Gap

EU trade chief Maros Sefcovic is expected to hold discussions with U.S. Trade Representative Jamieson Greer this week at an ASEAN ministerial summit in Kuala Lumpur. The conversation aims to restart negotiations on the suspended steel and aluminum export tariffs, according to Bloomberg News.

The European Commission has suggested eliminating or significantly lowering these tariffs but has yet to receive a formal reply from the U.S., Sefcovic told Bloomberg in an interview. A tariff-rate quota with low or zero tariffs seems to be the most logical step forward, he noted.

The U.S. Trade Representative mentioned that issues regarding metal tariffs are under the jurisdiction of the Commerce Department. However, both departments have not yet responded to Reuters' requests for comment on the matter.

(With inputs from agencies.)