The European Union (EU) and the United States (U.S.) have reached an agreement that will continue the suspension of the previous rebalancing tariffs, until March 31, 2025. In return, the U.S. will also continue to hold off on its Section 232 tariffs of 25% on EU steel and 10% on EU aluminum—imposed in 2018.
By extending the suspension of Section 232 with the EU this will allow importers to have greater sourcing options at a reduced cost. The agreement will continue to give the U.S. and EU time to negotiate and find a solution to the excess capacity in global trade for steel and aluminum.
If you have questions, reach out to your Mohawk Global representative.
By Clarissa Chiclana