EU-US agreement to end steel and aluminum tariffs

Washington-Sana

The United States and the European Union announced today that they have reached an agreement to eliminate the US tariffs on steel and aluminum imports from Europe that were approved by the administration of former President Donald Trump in 2018 and damaged trade relations between the two parties.

Reuters quoted US President Joe Biden as saying that "the United States and the European Union have reached a major breakthrough that will address the existential threat of climate change while protecting American jobs and industry," explaining that "the agreement immediately eliminates duties imposed on European Union production of steel and aluminum imposed by the administration." and lower costs for American consumers.”

In turn, European Commission President Ursula von der Leyen confirmed in a joint statement with Biden on the sidelines of the G20 summit in Rome that the two parties had reached an agreement to suspend duties on steel and aluminum and to work together for a new sustainable global arrangement for steel.

The dispute began in June 2018, when Trump imposed tariffs of 25 percent on steel and 10 percent on aluminum imported from several regions of the world under the pretext of protecting national security. In less than three weeks, the Europeans responded by imposing taxes on motorcycles, tobacco, corn, rice and other products from the United States.