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Investing.com -- EU Trade Commissioner Maroš Šefčovič expressed concern on Monday about the lack of engagement from the United States in discussions to prevent a potential tariff war. Šefčovič noted that despite the European Union’s willingness to negotiate, the U.S. does not appear to be making efforts to reach an agreement. This comes as the U.S. is set to reimpose tariffs on steel and aluminum imports.
The two sides had reached an understanding last month on issues that could benefit both parties, according to the EU Trade Commissioner. Despite this, the U.S. administration seems unresponsive in making a deal. The EU has previously stated its intention to retaliate if the U.S. moves forward with its planned tariffs on metals.
A 25% duty on all U.S. steel and aluminum imports is scheduled to take effect on Wednesday. In addition, the U.S. is planning to impose "reciprocal tariffs" to match levies set by other countries, which are due to be introduced on 2 April.
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