The US and the EU agreed to temporarily suspend tariffs on steel and aluminum, and both sides will discuss the global steel and aluminum overcapacity.

In a joint statement of US and EU officials, their talks will focus on the market distortions caused by overcapacity, as well as the threats of overcapacity on US and EU’s steel and aluminum industries.

US President Biden scheduled to meet EU headquarters in mid-June to discuss a new relationship between the two sides.