JJU - U.S. E.U. agree to trade truce on steel aluminum imports

The U.S. and the European Union have announced a deal at the G20 summit in Rome to ease U.S. tariffs on steel and aluminum totaling more than $10B of E.U. exports each year, removing one of the most significant trade disputes from the Trump administration's levies imposed in 2018. U.S. Commerce Secretary Gina Raimondo said the arrangement will maintain the tariffs but allow limited amounts of European imports to enter the U.S. free from tariffs while the E.U. will drop retaliatory tariffs. U.S. officials said the deal will ensure that steel entering the U.S. from Europe is entirely produced in Europe. American Iron and Steel Institute head Kevin Dempsey said the agreement will "prevent another steel import surge that would undermine our industry." ETFs: SLX, JJU Potentially relevant steel and aluminum tickers include X, NUE, CLF, RS, MT, STLD, AA, CENX The deal was praised by Harley-Davidson (NYSE:HOG), one of

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U.S., E.U. agree to trade truce on steel, aluminum imports