Retaliatory Tariffs Over Steel and Aluminum Tariffs Lifting in Europe
President Joe Biden said that the agreement to lift 25% tariffs on European steel and 10% tariffs on European aluminum and replace them with tariff rate quotas "immediately removes tariffs" in the European Union on a range of American products. However, the removal is not so immediate. The member states will have to vote on removing the tariffs before they are lifted, according to an EU spokesperson.
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In a phone call with reporters, Commerce Secretary Gina Raimondo said, "Working with our European counterparts, we have secured a deal that will protect American jobs; avoid retaliatory tariffs on iconic American brands like Harley-Davidson and the Kentucky bourbon industry; reduce inflationary pressures on products like cars, trucks, appliances and canned goods; and alleviate a major supply chain crunch by supporting increased steel and aluminum capacity in the U.S."
The Toasts Not Tariffs Coalition reacted to the news by saying: "The EU is a critical export market for American Whiskey producers. Securing the removal of the retaliatory tariff on American Whiskeys provides a boost not only to U.S. distillers across the country, but also to the entire U.S. supply chain from grain to glass. This renewed relationship will increase exports and job growth."
The United Kingdom's retaliatory tariffs on American spirits are not affected by this deal, since the UK left the EU. The Commerce Department said Oct. 31 that U.S. negotiators are talking with UK counterparts on both how to respond to global overcapacity and how to work to lower carbon emissions associated with metal production.