DodoFinance Breaking News Made For You!
The European Union and the United States are setting up a working group to address issues surrounding the production and export of steel and aluminum. The aim is to find a solution this year to the punitive taxes imposed by the two powers on each other from 2018. European Commission President Ursula van der Leyenn spoke with President Joe Biden in Brussels after the EU-US summit.
The conflict dates back to the time when President Donald Trump was in power. In the spring of 2018, it introduced import tariffs of 25 per cent on steel and 10 per cent on aluminum from almost all countries in the world. The EU retreated with similar measures. Last month, the European Commission suspended plans to impose the sentence until early December. “Now we need to see how we can get out of this predicament,” said Van der Leyen. The EU and the United States can jointly look at how to deal with the problem of overproduction with government subsidies on steel production such as China and Brazil.
According to locals, it is not easy for Biden to escape the punishment introduced by his predecessor, not only legally but also politically. This was done in the guise of national security. Cheap imports will kill American business.
The United States and the European Union will continue to work together in a Trade and Technology Council to better align rules and standards in new fields such as artificial intelligence and quantum computers.
You can follow these topics
“Explorer. Devoted travel specialist. Web expert. Organizer. Social media geek. Coffee enthusiast. Extreme troublemaker. Food trailblazer. Total bacon buff.”
