[Epoch Times November 1, 2021](Epoch Times reporter Li Yan comprehensive report) The United States and the European Union announced on Sunday (October 31) the end of the steel and aluminum tariff dispute, and in the next two years to develop a sustainable global Sexual agreement. Biden praised the agreement for “increasing U.S. steel and aluminum production” and preventing the CCP from exporting “unclean” steel to the United States.
The leaders of the United States and Europe agreed at the Group of 20 (G20) summit in Italy that they will reach a Global Sustainable Steel Arrangement in the next two years to reduce excess capacity and encourage more environmentally friendly ways to produce.
“The United States and the European Union have reached a major breakthrough that will address the existential threats posed by climate change, while also protecting American jobs and American industry.” US President Joe Biden said that the agreement immediately cancels the previous government. The steel and aluminum tariffs imposed on the European Union have reduced costs for American consumers.
The US-Europe trade dispute began in 2018. At that time, the then President Trump (Trump) invoked Article 232 of the Trade Expansion Act of 1962 to impose a 25% tariff on imported steel from the European Union and China, and a 10% tariff on imported aluminum. Regarding the competition of these metals as a national security threat.
Biden, who attended the G20 summit in Rome on Sunday, said that the agreement is expected to “increase U.S. steel and aluminum production…incentivize one of the most carbon-intensive industries in the global economy to reduce emissions.”
Ursula von der Leyen, President of the European Commission, said in a joint statement with Biden during the G20 meeting: “I am pleased to announce that President Joe Biden and I have reached an agreement. Suspend tariffs on steel and aluminum and cooperate on a new global sustainable steel agreement.”
According to a Reuters report, Biden also said that the carbon-based steel and aluminum trade agreement between the United States and Europe will restrict the entry of “unclean” steel from China (the CCP) into the US market and crack down on steel dumping in other countries.
The Financial Times reported that after the United States and Europe reached an agreement, they immediately drew criticism from the CCP. The Chinese Embassy in Washington stated that Beijing firmly opposes the “accusations” made by the US.
According to data from the Central News Agency, China‘s steel production accounts for 56% of global output, most of which are produced by blast furnace refining using iron ore and coking coal. In 2020, only a few countries in the world will increase steel production, and China is one of them.
Editor in charge: Lin Yan#