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US, EU strike trade deal to remove steel, aluminum tariffs

Source : 112 Ukraine

The easing of the tariffs is a key step in unwinding one of Trump’s legacies as Biden has tried to reset the US relationship with Europe
11:55, 31 October 2021

Diletant

The United States and the European Union have reached an agreement to resolve their diplomatic rift over tariffs on steel and aluminum supplied to Europe from the United States.This was reported by the press service of the White House.

National security adviser Jake Sullivan, US Trade Representative Katherine Tai and Commerce Secretary Gina Raimondo announced the agreement on Saturday. They said that the Article 232 tariffs won’t be removed entirely but that some quantity of European steel and aluminum will be allowed to enter the US without tariffs under the deal.

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“We were able to reach an agreement whereby the EU will drop their retaliatory tariffs (on American goods),” Raimondo said.

The agreement would ensure “that all steel entering the US via Europe is produced entirely in Europe.”

The easing of the tariffs is a key step in unwinding one of Trump’s legacies as Biden has tried to reset the US relationship with Europe.

The Trump administration had placed taxes on EU steel and aluminum in 2018 on the claim that the foreign products produced by American allies were a threat to US national security.

Related: EU parliament sues EU Commission for refuse to cut funding for Poland and Hungary

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