5/17/2018, 10:11 AM (Source: TeleTrader)
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Merkel: EU ready to discuss tariff reductions with US

The European Union is ready to discuss the reciprocal reduction of tariffs with the United States but only under the condition of permanent exemption from the steel and aluminum tariffs, German Chancellor Angela Merkel said on Thursday upon arriving for the Western Balkans summit in Sofia. "We have a common position. We want a permanent exemption and then we are ready to talk how we can reciprocally reduce the barriers to trade," Merkel told reporters.

US President Donald Trump announced the steel and aluminum tariffs in March but subsequently said the EU would be granted temporary exemption from the measures until June 1. The bloc issued a statement on Trump's decision to prolong the exemption by one month, emphasizing it would not negotiate with Washington "under threat" and criticizing the move as prolonging "market uncertainty."

Breaking the News / JC