EU agrees partial truce with US over tariffs

Both sides resumed negotiations during discussions on addressing global overcapacity in steel and aluminium.

The Commission said on Monday it would suspend a proposed hike in its retaliatory tariffs that would have added a number of products from lipstick to sports shoes to its list of penalised goods, and doubled to 50% duties on US bourbon whiskey, motorbikes and motor boats.

The United States will maintain its tariffs of 25% on steel and 10% on aluminium, which are also applied to imports from China, India, Russia, Turkey, Norway and Switzerland.

In a joint statement, both sides, as allies, said they could promote high standards, address shared concerns "and hold countries like China that support trade-distorting policies to account."