June 29, 2022
G20: US and EU sign agreement on steel and aluminum tariffs - Época Negócios

G20: US and EU sign agreement on steel and aluminum tariffs – Época Negócios

The agreement will keep tariffs at 25% on two items imposed by Donald Trump’s government (Photo: Buena Vista Images/Getty Images)

Government United State and leaders European Union I managed to strike a deal last Saturday night (30), at Rome, on the margins G20About the trade war that broke out three years ago over tariffs on European steel and aluminum imports.

According to Washington Commerce Secretary Gina Raimondo, the agreement will keep tariffs at 25% on the two items imposed by Donald Trump’s government, created in 2018, but will allow in “limited amounts” of steel NS Aluminium Without those additional fees.

In return, the European bloc will not retaliate against the measure and will not impose higher taxes on North American products, such as motorcycles, bourbon and other foodstuffs.

According to US National Security Adviser Jake Sullivan, this agreement will be the first of its kind that will take into account carbon neutrality in the production of aluminum and steel by American and American companies.

While agreeing to continue the talks, Sullivan stressed that the agreement “removes the greatest irritant in the bilateral relationship” and turns it “into a common progress toward the central goal.”

Italian Prime Minister Mario Draghi spoke on Sunday (31) on the subject, before the start of meetings in Rome, and said he saw “with great satisfaction the agreement” and that he confirmed “the new consolidation in progress towards the already closing of transatlantic relations and the gradual overcoming of protectionism in the years past”.

The Italian statement concluded by saying, “I hope that this agreement will be a first step towards reopening exchanges between the European Union and the United States for the benefit of the growth of the two economies.”