The European Union (EU) has announced that it will not increase its retaliatory tariffs for Section 232 tariffs—which adds a 25 percent tariff on steel and 10 percent on aluminum imports. Items on the EU retaliation list include whiskey, bourbon, orange juice, cigarettes, steel, motorcycles, yachts, and more. The retaliation was set to double the tariffs on June 1.
The decision comes from an effort to “reboot the transatlantic relationship,” according to Executive Vice President Dombrovskis.