The EU has agreed to re-introduce tariff plans on a number of US issues while the two sides seek a long-term reconciliation on the issue of metals and scrap.
Brussels has agreed with Biden’s management that the EU and the US have agreed to avoid changes that would “disrupt trade” as they open negotiations to curb globalization in the two regions.
The move means the EU will not continue to raise commodity prices on a number of US issues that need to be fixed next month. The two groups volunteered until the end of the year to discuss the increase in steel production from countries including China.
The EU’s view is related to the crisis that has erupted since 2018 when former President Donald Trump ordered aluminum and steel from Europe and other economic powers, saying this was necessary for national security reasons.
The EU returned with its taxes on various items, which it plans to roll out on June 1. In its early stages the EU hit well-known U.S. goods including bourbon, clothing and motorcycles.
Monday’s change will come at a planned meeting between the EU and US President Joe Biden next month that will seek to mend seaside tensions following Trump’s years of turmoil. Valdis Dombrovskis, deputy vice-president of the European Commission, said the decision to ban immediate repatriation showed that the EU was working to “re-establish transatlantic relations”.
He made the announcement on Monday in collaboration with US Trade Representative Katherine Tai and Secretary of Commerce Gina Raimondo.
The two groups said they had agreed to discuss “steel and aluminum for energy and to develop solutions, including appropriate trade solutions, to keep our complex industries afloat,” he said.
“Ensuring that co-operatives are cohesive, cohesive to avoid changes in the environment that disrupts bilateral trade.”
Dombrovskis added: “By stopping our efforts, we are creating opportunities to address these issues within a year.
“The EU is not a threat to the US. But the distortions caused by the increase in global power – which are largely controlled by some people – are a serious threat to the EU and US markets for metals and wastes by those working in those factories. ”
Earlier this month in Dombrovskis he was told The Financial Times also hoped to secure an agreement with Biden’s management to resolve the 16-year-old dispute with the help of Airbus and Boeing.
The EU and US have acted “strongly” in dealing with their trade disputes, he said, while praising the “dramatic changes” since the Biden officials took office in January.
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