The EU and US took a step towards a post-Trump trade truce on Monday (17 May), agreeing to hold talks to end a tit-for-tat feud over steel and aluminium tariffs.
In a carefully phrased statement, United States Trade Representative Katherine Tai and her EU counterpart Valdis Dombrovskis announced “discussions to address global steel and aluminium excess capacity” that would tackle China’s outsize role in the problem.
The Europeans will, in addition, temporarily suspend a plan to increase tariffs on the US, the EU said.
The peace offering is the latest chapter in a row that began in June 2018 when then US president Donald Trump imposed tariffs of 25% on steel and 10% on aluminium from Europe, Asia and elsewhere.
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ChinaEU, U.S. say they can partner to hold China to account on trade-distorting policies
Reuters
1 minute read
U.S. and European Union flags are pictured in Brussels, Belgium February 20, 2017. REUTERS/Francois Lenoir
The United States and the European Union issued a joint statement on Monday saying that they can partner to hold countries like China that support trade-distorting policies to account .
The statement was issued by the United States Trade Representative Katherine Tai, U.S. Secretary of Commerce Gina Raimondo, and European Commission Executive Vice President Valdis Dombrovskis.
The statement announced the start of discussions to address global steel and aluminum excess capacity.
EU, U.S. say they can partner to hold China to account on trade-distorting policies
FILE PHOTO: U.S. and European Union flags are pictured in Brussels, Belgium February 20, 2017. REUTERS/Francois Lenoir reuters tickers
This content was published on May 17, 2021 - 11:42
May 17, 2021 - 11:42
(Reuters) - The United States and the European Union issued a joint statement on Monday saying that they can partner to hold countries like China that support trade-distorting policies to account .
The statement was issued by the United States Trade Representative Katherine Tai, U.S. Secretary of Commerce Gina Raimondo, and European Commission Executive Vice President Valdis Dombrovskis.
EU, US Move To End Steel Row And Look To China By Alex PIGMAN
05/17/21 AT 8:19 AM
The EU and US took a step towards a post-Trump trade truce on Monday, agreeing to hold talks to end a tit-for-tat feud over steel and aluminium tariffs.
In a carefully phrased statement, United States Trade Representative Katherine Tai and her EU counterpart Valdis Dombrovskis announced discussions to address global steel and aluminium excess capacity that would tackle China s outsize role in the problem.
The Europeans will, in addition, temporarily suspend a plan to increase tariffs on the US, the EU said.
The peace offering is the latest chapter in a row that began in June 2018 when then US president Donald Trump imposed US tariffs of 25 percent on steel and 10 percent on aluminium from Europe, Asia and elsewhere.