By Sabela Ojea

The Biden Administration extended the suspension of tariffs on steel and aluminum articles imported by European Union members by two years.

The government on Thursday said the U.S. and the European Union have made substantial progress to identify the sources of non-market excess capacity to address distortions resulting from it.

"These discussions are anticipated to include alternative measures to prevent imports of steel from the EU from threatening the national security of the United States," Biden said in a White House statement.

Certain steel and aluminum imports from the European Union will be excluded from tariffs proclaimed in the Proclamation 9705 through December 31, 2025.

In 2018, former U.S. president Donald Trump imposed tariffs of 25% on steel imports and 10% on aluminum, but Biden suspended EU steel and aluminum tariffs for a two-year period back in January 2022.

Write to Sabela Ojea at sabela.ojea@wsj.com; @sabelaojeaguix

(END) Dow Jones Newswires

December 28, 2023 16:03 ET (21:03 GMT)