US drops some Trump-era tariffs against EU steel
The United States has dropped some of the tariffs against steel produced by EU, which were imposed by the administration of former President Donald Trump.
The announcement was made by Commerce Secretary Gina Raimondo calling the move “an historic agreement with the European Union.”
Raimondo added in prepared remarks that the agreement would allow “limited volumes of EU steel and aluminum to enter the US tariff-free."
"By agreeing to this framework, we are protecting American jobs, we are showing that clean manufacturing can be good for business and consumers, we are creating more incentives for steel and aluminum consumers to purchase American and European products, and we are helping the planet," claimed the Biden administration’s commerce secretary.
During the Trump era, EU threatened an "arsenal" of retaliatory measures when the US tariffs were first mentioned by Trump, including imposing import taxes on goods produced in red districts.
Later, the Trump administration imposed tariffs on steel and aluminum on Mexico, Canada and the European Union.
"Today, I am defending America’s national security by placing tariffs on foreign imports of steel and aluminum," Trump stated, insisting that American steel and aluminum industry has been “ravaged by aggressive foreign trade practices.”
The EU took retaliatory measures at the time by imposing tit-for-tat tariffs on some American goods, such as Harley-Davidson motorcycles.
The former president was reportedly planning to intend even more tariffs for EU-made goods, which triggered outrage among certain businesses in the United States.
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