Agreement on Harley-Davidson punitive tariffs now in sight!
Since Saturday, there have been reports from the US that an agreement will be reached on punitive tariffs.
Today, Sunday, confirmation arrives from Brussels! Ursula von der Leyen has announced that the EU Commission calls for suspension of punitive tariffs on US goods. The following is the official statement from Brussels, from EU President Ursula von der Leyen.
„The spoken word applies!“
I am pleased to announce that President Biden and I have agreed today to continue the Customs duties on steel and aluminum and begin work on a new Global Agreement on Sustainable Steel. This is a new cornerstone in our resumed EU-US partnership. And it is a first step in our efforts to decarbonize global steel production and trade. A milestone in the fight against climate change. The agreement is open to all like-minded partners.
Steel production is partly responsible for the highest CO2 emissions worldwide. To make steel consumption and steel trade sustainable, we need to tackle the industry's CO2 intensity. The same applies to the problems of overcapacity. This is the aim of the Global Agreement on Sustainable Steel. We will work with the United States to ensure the long-term sustainability of our industry as well as the Production and stimulate trade in low-CO2 steel.
This new global initiative represents another important instrument in our efforts to Sustainability represent. It will be an important step towards achieving climate neutrality. It will also ensure a level playing field for our industries. This key initiative fits into our renewed forward-looking transatlantic agenda with the US.
Since the beginning of the year, we have restored trust and communication. At our summit in June, we decided to settle disputes over subsidies for the aircraft industry; we established the EU-US Trade and Technology Council; we reached agreement on a global minimum tax; and now we have found a solution for trade in steel and aluminum between the EU and the US.
Thank you, President Biden, dear Joe, for your announcement that the US will lift US tariffs on steel and aluminum from the EU on an unprecedented scale. This will resolve most of the existing trade issues. As a result, transatlantic trade in steel and aluminum between the EU and the US should return to the volume it had before the tariffs were introduced. As a result of this decision by the US, I am pleased to announce that the Commission will also propose suspending the tariffs imposed on our side.
Together with President Biden, I will convey this good news about the settlement of our trade disputes in this area to the World Trade Organization. I would also like to thank Secretary of Commerce Gina Raimondo, United States Trade Representative Katherine Tai, and Executive Vice President and Trade Commissioner Valdis Dombrovskis for their tireless efforts over the past few months.
Text: EU Commission/Brussels 31.10.2021
