The Biden administration in the United States has announced that it has agreed to ease additional tariffs on steel products, which have become a symbol of trade conflict with the EU-European Union.

Between the US and the EU, the former Trump administration has added high tariffs of 25% and 10% on steel and aluminum imported from the EU since June, three years ago, due to security threats. , The EU side has also added tariffs on some products as a countermeasure.

On the 30th, US Secretary of Commerce Lemond told reporters that after negotiations with the EU, he had agreed to ease the additional tariffs on both sides.

According to the report, the US side will maintain additional tariffs on steel and aluminum, while exempting certain quantities from tariffs.

In addition, the EU side has also abolished the retaliatory tariffs imposed on some products, so both sides have set a certain goal to solve the problem that has become a symbol of trade friction.

In addition, Lemond said he acknowledged that China's overproduced steel products were exported at low prices, damaging the U.S. steel industry and agreed to work with the EU to address the issue. increase.

The Biden administration is expected to accelerate the strengthening of relations with the EU in order to compete with China, which is positioned as the largest competitor.