EU escapes U.S. steel tariffs; frets over what comes next

In Brussels, there’s been little sign of rejoicing that the European Union, along with some other major U.S. trading partners, has dodged, for now, the steep steel and aluminum tariffs that went into effect today. The exemption is temporary, short and conditional. French President Emmanuel Macron said the exemption was “not considered satisfactory.” German Chancellor Angela Merkel warned of the danger of a “spiral of trade measures.” It was clear that granting the exemption did not win the hearts and minds of European leaders.

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