Biden Administration Announces Easing of Some Tariffs on Eu Steel, Aluminum

On Sunday at the G-20 summit, it was announced by President Joe Biden that the U.S has struck a deal to bring down tariffs on billions of dollars of European steel and aluminum, which would result in simplifying trade battles that had stressed the trans-Atlantic relationship after the Trump administration.

U.s and E.u. Would Establish Trade Flows Again

In a combined appearance, Biden along with the European Commission president Ursula von der Leyen had announced that both the countries (U.S and E.U.) would once again establish trade channels in the manner like it used to be before 2018 when former President Donald Trump steamed up a certain closest network of America by bashing them with the abrupt new tariffs.

In return, the E.U. will revoke vindictive tariffs on American goods and also won’t proceed further ahead together with new surgeon tariffs that they have scheduled to come into effect from 1st December. 

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In a statement, Biden said, “Together with the United States, the European Union, are ushering in a new era of trans-Atlantic cooperation that’s going to benefit all of our people, both now and I believe, in the years to come.”

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Further, Katherine Tai, the trade representative of the U.S. stated that the agreement within the U.S. and E.U sent upon President Joe Biden’s “mission to turn the page on past disputes and begin a new chapter of enhanced trans-Atlantic relations.” 

Biden administration
Biden administration

The officials of the Biden administration stated that the deal would result in the protection of U.S. workers, lessen costs for consumers in America and consider the supply chain-related problems.

Further, it was also stated by Raimondo that the deal also was mindful of “carbon intensity” and would enable for the steel and aluminum manufacture that is “significantly cleaner” in comparison to what is produced in China. 

On Sunday evening, in a concluding press conference, Biden state that the leaders of G-20 had brought in “tangible progress” upon collective hardships along with climate change since the burden rises for the U.S. and other countries releasing high carbon to enact more intense steps before United Nations climate summit to be held in this week.

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When Biden was asked to react to the letdown from certain experts that the G-20 climate pledges had not been able to go to a certain extent, Biden stated the failure “relates to the fact that Russia and China didn’t show up.”

Previously in the day, on Sunday morning, Biden settled down with President Recep Tayyip Erdogan of Turkey for a face-to-face meeting before participating in the second plenary round of the G-20.

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A request was made from Turkey for purchasing the F-16 fighters from the U.S., but the decision by Ankara of purchasing an air defense missile system from Russia raised certain complications in the deal.

When reporters asked Biden regarding Turkey’s record over human rights and whether the country had formed a close relationship with Russia, he did not give any answer to such questions.

After the meeting, the White House said in a statement that Biden had “reaffirmed our defense partnership and Turkey’s importance as a NATO Ally, but noted U.S. concerns over Turkey’s possession of the Russian S-400 missile system.” Further, the White House also said that the president also “underscored his desire to maintain constructive relations, expand areas of cooperation, and manage our disagreements effectively.”

The G-20 meetings of Sunday were mainly aimed at climate change along with environmental and sustainable development as well.

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In opening remarks, Italian Prime Minister Mario Draghi, “The cost of action — however it might seem — is trivial compared to the price of inaction,” adding further “The fight against climate change involves quite literally the whole world. We stand united in success and failure.”

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