Biden focuses on US-EU steel trade

US President Joe Biden highlighted the flourishing trade relationship between the US and the EU following negotiations on the world's first steel and aluminum products trade deal, negotiated during his first year in office.

“We are working closely with international partners to create more resilient and reliable supply chains for critical minerals used in products such as electric vehicle batteries. We are also deepening our cooperation with the European Union by negotiating the world's first emissions-based steel and aluminum trade agreement to encourage fair trade, promote cleaner production and create good jobs on both sides of the Atlantic,” Biden said.

In October 2021, the US and the EU released a joint statement declaring duty-free imports of steel products from the EU to the US with a tariff quota of 3.3 million tonnes. Biden believes that his administration's goals are aligned with the interests of European trading partners and that it is possible to reach an understanding that will benefit and protect all countries.

“At the same time,” Biden adds, “the United States and the European Union are collectively fighting unfair competition from non-market economies and authoritarian regimes and working to remove forced labor from global supply chains.”