EU expects US to scale back steel, aluminum goods tariffs within weeks, Bloomberg News reports

Feb 24 (Reuters) - European Union officials expect the U.S. to lower tariffs on goods containing steel and aluminum within weeks, potentially easing a major source of friction in transatlantic trade ties, Bloomberg News reported on Tuesday, citing people familiar with the matter.

The planned changes would not affect tariffs on commodity-grade forms of the metals, the report said.

The potential move comes as broader trade negotiations face renewed uncertainty after a U.S. Supreme Court ruling limited the administration's ability to invoke emergency powers to impose sweeping "reciprocal" tariffs, clouding prospects for a comprehensive agreement between Washington and Brussels

Steel News

Steel Export Market Prices

MaterialPriceChange
Stainless Seamless Pipe 304 108*4 mm$ 2196.65 11.34
Stainless Scrap 304 Solid$ 1296.97 -12.95
Stainless Bar 321 60 mm$ 2197.04 -13.10
Stainless Bar 304 60 mm$ 1956.28 -13.25
Stainless HR Coil 304/No.1 6.0 mm$ 1902.08 -9.39