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USTR Meets w/EU Counterpart At G20 Trade Summit, Discuss Steel Tariffs

US-EU

Wires and social media reporting that USTR Katherine Tai met earlier with European Commission Exec VP for Trade Valdis Dombrovskis on the sidelines of the G20 Trade Ministers' summit in Sorrento, Italy.

  • Reports that the two discusses tariffs on steel and aluminium, one of the major sticking points in trade between the US and the EU.
  • The two have a significant amount of work to do if a second round of retaliatory tariffs from the EU are not going to be imposed from 1 Dec onwards.
  • In 2018 the Trump administration placed a 25% tariff on European steel and 10% on aluminium, citing national security. This resulted in the EU slapping tariffs worth USD3.2bn on US products. A second round of EU tariffs were delayed in May 2021 as a show of good faith to the Biden administration, but this delay expires 1 Dec.
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