Steel for Bourbon: US and EU bury the hatchet

United States President Joe Biden and European Commission chief Ursula von der Leyen on Sunday in Rome celebrated “a new era” in the transatlantic relationship after reaching an agreement on steel and aluminum .

“The United States and the European Union are entering a new era of transatlantic cooperation,” Biden, along with Von der Leyen, said at a press conference parallel to the G20 summit in Rome.

Washington and Brussels reached an agreement on Saturday to lift additional tariffs on European imports of steel and aluminum, rates imposed by former US President Donald Trump that had strained bilateral relations.

“We have restored trust and communication,” said the President of the European Executive.

The agreement will allow duty-free entry into the United States of a limited amount of steel and aluminum from Europe.

In return, the EU rolls back retaliatory measures on products like Harley-Davidson motorcycles and Kentucky bourbon.

“The reset button has been successfully pushed with the Biden administration, in large part thanks to our shared desire to forge a new trade agenda,” said EU Trade Commissioner Valdis Dombrovskis.

Italian Prime Minister Mario Draghi, host of the G20, said he was satisfied with an agreement “which confirms the strengthening of the already close transatlantic relationship and the gradual overcoming of protectionism in recent years”.

With this agreement, the United States and Europe also commit to promote “the decarbonization of the global steel and aluminum industries to combat climate change,” the European Commission said in a statement, recalling that these industries are responsible. a large part of global emissions.

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