The United States and the EU reached an agreement on Saturday to resolve the dispute over the tariffs imposed by Washington on steel and aluminum that dates back to the era of Donald Trump. Those responsible for both parties have reported the agreement from Rome, where It is celebrated this weekend the covers of leaders of the Group of 20.
Specifically, the Secretary of Commerce of the United States, Gina Raimondo, and the representative of Commerce of the United States, Katherine Tai, have reported the agreement. EU Trade Commissioner Valdis Dombrovskis has confirmed an agreement to “pause” the disputebut the Commission has not provided further details on this.
The agreement will be formally presented on Sunday by the president of the United States, Joe Biden, and the president of the European Commission, Ursula von der Leyen. The agreement resolves one of the main disputes between both parties, has highlighted Biden’s National Security Advisor, Jake Sullivan.
The pact authorizes free trade in a certain amount of European metals, Raimondo explained. In addition, both parties desist from the demands brought before the World Trade Organization (WTO). Raimondo explained that EU tariffs were going to increase before the end of this year, which has been avoided with the agreement. In addition, it is guaranteed that metals originating in China cannot be traded.
It all started in 2018, when Trump imposed tariffs on European steel and aluminum and Brussels reciprocated on products such as jeans, bourbon whiskey, motorcycles and peanut butter. Trump based the tariffs on “national security interests”, but Brussels considered that it was a measure to avoid competition.
Mario Twitchell is an accomplished author and journalist, known for his insightful and thought-provoking writing on a wide range of topics including general and opinion. He currently works as a writer at 247 news agency, where he has established himself as a respected voice in the industry.
