Tariff crisis Trump's tariff policy

EU nears trade deal with US

After having interrupted the process twice so far, the EU may vote on the possibility of implementing parts of the trade agreement between the EU and the US. This is reported by Reuters.

The new agreement may include relief for US industrial goods and agricultural products. The proposals must then be approved by both parliament and EU member states.

The agreement has previously been criticized for favoring the US, as the EU is expected to lower most import tariffs while the US will remain at a broad level of 15 percent.

Sources: Britain may double steel tariffs

On Thursday, UK Trade Secretary Peter Kyle is expected to present the country's new steel strategy. According to sources with insight, the new package includes reduced import quotas for several steel products and increased tariffs of up to 50 percent for imports outside the quotas.

– The tariff will be doubled to 50 percent, in line with what the Europeans, Canadians and Americans have done, a person tells the site.