WASHINGTON—The European Union on Monday agreed to postpone plans to raise tariffs on American whiskeys, motorcycles, boats and other items set to take effect June 1 as it begins talks with the Biden administration aimed at lifting U.S. steel tariffs.
In a joint statement, the U.S. and EU said they would begin formal discussions to address problems plaguing the global steel and aluminum industry, and “agreed to chart a path” toward resolving the dispute that led to tariffs.
They said the talks would include discussions on how overproduction in China depresses prices and threatens the viability of domestic metal producers.
“The United States and EU Member States are allies and partners, sharing similar national security interests as democratic, market economies,” said the joint statement released Monday from the European Union’s trade directorate, the Office of the U.S. Trade Representative, which is President Biden’s top trade agency, and the Commerce Department.
The U.S. and EU “can partner to promote high standards, address shared concerns, and hold countries like China that support trade-distorting policies to account,” the statement said.
