Ceasefire instead of the Peace Treaty: New USA initiative to aver the Trade War

Brussels and Washington have agreed not to impose new duties, as long as trade negotiations continue. “The meeting was good and constructive,” Junker said. Both sides will also work to reform the WTO, Trump said.

European-American trade disputes started in late March, when the United States had announced the introduction of all the import duties on steel (near 25%) and aluminum (10%), but had given the European Union and a number of other countries a postponement until June 1.

Since June 1, the United States has imposed these restrictions on the EU, Mexico and Canada. Europe reciprocated a month later – on July 1, the EU imposed 25 percent duties on a range of food, whiskey, tobacco, clothing, internal combustion engines, steel and other products from the United States worth $ 3.3 billion. Unlike the conflict between the US and China, which was outright called the “trade war” at the official level, the relations with Europe is, for the time being, just a dispute.

“We are witnessing the height of the trade dispute, which could quickly degenerate into a trade war,” EU Budget’s Commissioner Guenther Oettinger told the media.




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