At the European Council meeting on 22 March, leaders of the 19 euro area countries discussed long-term reforms of the economic and monetary union (EMU), including proposals such as the creation of a fiscal capacity for the euro area. They reaffirmed that the most urgent priorities are the strengthening of the banking union and the reform of the European Stability Mechanism. Leaders also endorsed the European Semester policy priorities for 2018. They discussed how to adapt taxation systems to the digital economy, what more can be done to fight tax evasion and avoidance, and how best to ensure tax synergies at the EU and international level. EU leaders reaffirmed their commitment to an open and rules-based multilateral trading system with the World Trade Organisation (WTO) at its core. At the same time, they regretted the decision by the US to impose import tariffs on steel and aluminium and urged that the temporary exemption on shipments of steel and aluminium from the EU be made permanent. The European Council, meeting in an EU27 format, adopted the guidelines on the framework for a future relationship with the UK after Brexit. Lastly, the European Council called for increased efforts to deliver on a range of policy areas that include the digital single market, the energy union, the capital markets union and the EU industrial policy.