On the same day, he targeted China for unfair trade practices, US President Donald Trump exempted the EU from tariffs on steel and aluminum — for now.
At a finance ministers' summit, the group issued a statement calling for dialogue over economy-killing trade disputes. The US reportedly tried to woo the EU and Japan for leverage over China.
In the wake of US tariffs on steel and aluminum, the EU has made several counter moves and has now raised tariffs of its own on steel imports which exceed quotas based on current levels.
With trade conflicts brewing around the world, this weekend’s G20 meeting of finance ministers in Argentina might not be the most fun place to be on the planet. Yet critical questions will be on the agenda.
The trade conflicts between the US and several of its biggest partners are escalating. Among those wary of the consequences are American companies and thousands are scrambling to be made exempt from certain tariffs.
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