The Biden administration on Saturday announced it has reached an agreement with the European Union (EU) to ease some tariffs on steel and aluminum that were enacted amid trade tensions under the Trump administration.
Commercial secretary Gina RaimondoGina Raimondo Republican spin on Biden is irrelevant Commerce Department Announces First Round of Awards for U.S. Hillicon Valley Rescue Programs – Brought to you by Xerox – US crackdown on overseas hacking tools MORE said in prepared remarks that the United States had “reached a historic agreement with the European Union” which “allows limited volumes of steel and aluminum from the EU to enter the United States duty-free of rights â.
She said the deal would prevent certain U.S. products, including Kentucky bourbon and Harley-Davidson vehicles, from being hit with retaliatory tariffs, which she said are expected to rise to 50% in December.
Raimondo noted that the deal would reduce some costs for US consumers and manufacturers and provide some relief from the supply chain crisis.
“By accepting this framework, we are protecting American jobs, we are showing that clean manufacturing can be good for businesses and consumers, we are making steel and aluminum consumers more likely to buy American and European products, and we are helping the planet, âRaimondo said, according to his prepared remarks.
“The lifting of this tariff burden on American whiskeys not only stimulates American distillers and farmers, but also supports the recovery of restaurants, bars and distilleries in the EU hit hard by the pandemic,” said the President and CEO of the Distilled Spirits Council, Chris Swonger, in a statement.
“With the removal of these EU tariffs, we are energized and ready to step up our promotions of American whiskey in the EU to reintroduce Native American spirits to EU consumers and resume great export success. American, âadded Swonger.
Harley-Davidson Chairman and CEO Jochen Zeitz called the news a “significant course change in US-EU trade relations” in a statement.
In retaliation, the EU said it would impose tariffs on U.S. products in response, including Harley-Davidson motorcycles, Kentucky bourbon and jeans.
“We are extremely disappointed that the United States has announced that it will impose more tariffs on additional categories of distilled spirits imports from the EU in disputes over civil aircraft subsidies, including some cognacs and other grape-free eaux-de-vie, âsaid the Distilled Spirits Council in December.
“Hospitality companies and our consumers, as well as producers, wholesalers and importers of distilled spirits are collateral damage in a dispute completely independent from the beverage sector,” added the group.
– Update at 5:09 p.m.