The decision was announced by the European Commission on the morning of 19 December: just a few days before 1 January 2024, which would have seen the return to force of the ‘rebalancing’ tariffs imposed by the EU on certain products from the United States, the two parties finally agreed to extend the suspension of these tariffs until 31 March 2025.
These tariffs were initially implemented by the EU in 2018 in response to new US ‘Section 232’ tariffs on European steel and...