Europe and AmericaInternational

The United States and Europe have reduced tariffs imposed by the Trump administration



While US President Joe Biden is in Rome (Italy) for the G20 summit, the White House said Saturday, IRNA reported Sunday, quoting the USA Today website. He said the United States and the European Union had reached an agreement to resolve their diplomatic disputes over steel and aluminum tariffs imposed during Donald Trump’s presidency.

In 2018, the Trump administration imposed tariffs on steel and aluminum imported from the European Union, claiming that foreign products produced by US allies pose a threat to US national security.

Following the former US president’s move, Europeans and other allies were outraged by Trump’s use of Article 232 to justify tariffs, and many of them imposed reciprocal tariffs on US-made products.

But yesterday, US National Security Adviser Jake Sullivan, US Trade Representative Katherine Tai and Commerce Secretary Gina Rimondo announced the deal. They said that although Article 232 tariffs would not be completely eliminated, some European steel and aluminum would be allowed to enter the United States without tariffs.

“We were able to reach an agreement under which the European Union would drop its retaliatory tariffs (on American goods),” Raymondo explained. “This agreement guarantees that all steel imported into the United States via Europe will be produced entirely in Europe,” he added.

Observers say the tariff cuts are a key step in getting rid of one of Trump’s legacies, which Biden sought to re-establish by re-establishing US-European relations.

These tariff fluctuations on both sides are said to have not only hurt European producers, but also increased steel costs for American companies. The imposition of these tariffs also failed to achieve the goals set by the Trump administration.

The US Bureau of Labor Statistics shows that following the introduction of tariffs in 2018, jobs in the production of primary metals have increased slightly, reaching 389,100 people in 2019. But factories laid off many workers during the Coveid-19 epidemic, and employment in the sector reached almost half of what it was in 1990.

On the other hand, the European Union took steps to improve relations with the United States in May. In the case of some retaliatory tariffs, the EU has temporarily suspended planned increases.

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