ROME – President Biden said on Sunday that a new trade deal between the United States and the European Union would crack down on ‘dirty steel’ that produces carbon emissions responsible for climate change and also close a transatlantic tariff gap Trump-era steel and aluminum.
Biden and European Commission President Ursula von der Leyen said in a joint appearance at the Group of 20 summit that the deal represented a renewed partnership on economic and environmental issues. The agreement resolving the trade dispute would resolve excess capacity that can distort the steel market and create a framework to reduce the carbon intensity of steel and aluminum production that contributes to global warming.
The US president said that âdirty steelâ made in China would not be allowed into their markets, although all like-minded economies could participate in the deal.
âBy harnessing our diplomatic and economic power, we can reject the misconception that we cannot grow our economy and support American workers while fighting the climate crisis,â said Biden, who pushed the United States to aggressively tackle the threat posed by climate change.
“This will be a big step forward towards climate neutrality and it will ensure a level playing field,” said Von der Leyen, adding that the agreement was part of a renewed and forward-looking agenda with the United States. United.
Tariff easing is a key step in unraveling one of former President Donald Trump’s legacies as president as Biden tried to restore U.S.-European relations.
In return for Europe dropping its retaliatory tariffs, the United States would also ensure that “all steel entering the United States via Europe is produced entirely in Europe,” the secretary said. American in Commerce, Gina Raimondo.
The Trump administration imposed taxes on EU steel and aluminum in 2018, saying foreign products made by US allies posed a threat to US national security.
Europeans and other allies were outraged by Trump’s use of Section 232 of the U.S. Trade Act to justify tariffs, leading many to impose counter-tariffs on motorcycles, the bourbon, peanut butter, jeans and hundreds of other items made in the United States.
The back-and-forth measures have hurt European producers and increased steel costs for American companies. The tariffs also failed to meet Trump’s stated goal of creating jobs at steel mills. The Bureau of Labor Statistics shows that jobs in primary metal manufacturing increased slightly, reaching 389,100 in 2019. But factories laid off workers during the pandemic, and employment in the sector is about half of that. it was in 1990.