00:00U.S. Commerce Secretary Howard Lutnick has said that Washington can reduce duties on EU steel
00:07and aluminium, but only if the Europeans agree to ease the implementation of digital rules,
00:13following a meeting in Brussels on Monday.
00:16We set a baseline foundation of a trade agreement that resets trade between us in a reciprocal
00:25and fair way, and now it's our job both to implement it and then to work on the next
00:31version of it to grow and to build those relationships going forward.
00:36Lutnick did not call to remove the rules, but did say the way in which they are applied should be
00:41more balanced for American tech companies. Brussels is desperately seeking to obtain a
00:47reduction of the 50 percent tariffs that the Trump administration imposed on European aluminium and
00:52steel in June. The EU and U.S. clinched a trade deal in July that resulted in a 15 percent tariff on
01:00most European goods, but EU steel and aluminium remain stuck at the much higher rate despite the deal.
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