The European Union and the US are headed in the “right direction” in trade talks, though new American levies on steel and aluminum imports aren’t helpful if both sides want to maintain momentum, Maros Sefcovic said after meeting with US Trade Representative Jamieson Greer.

U.S. tariffs are in the spotlight once again in Europe as President Donald Trump's 50% levy on steel and aluminum imports came into effect Wednesday.

DUESSELDORF (Reuters) -U.S. tariffs on steel have only a limited direct effect on Thyssenkrupp Steel Europe, the company said on Wednesday, but the increase in import duties brings with it pressure on trade relations more broadly, it warned.