China News Service, Washington, October 30 (Reporter Chen Mengtong) The US government announced on the 30th that it had reached an agreement with the European Union to resolve the steel and aluminum tariff dispute.

  Sullivan, Assistant to the President for National Security Affairs, Secretary of Commerce Raymondo, and US Trade Representative Dai Qi held a telephone briefing that day to announce the news.

  In 2018, the then Trump administration of the United States began to impose tariffs on steel and aluminum products exported from the European Union to the United States on the grounds of "maintaining national security."

  Sullivan said that the above-mentioned agreement not only eliminates "one of the biggest stimulus factors" that have a negative impact on US-EU relations, but also promotes the two sides to jointly deal with future challenges.

  As of press time by a reporter from China News Service, the United States and Europe have not yet issued an official statement on the agreement.

However, the European Commission’s Executive Vice President for Trade Affairs Valdis Dombrovskis confirmed via social media on the 30th that the EU and the United States have agreed to suspend the steel and aluminum trade dispute. European Commission President Von der Lein and U.S. President Biden This agreement will be officially announced on October 31.

  Raimundo revealed at the briefing that the agreement will maintain the United States under "Article 232" to impose 25% and 10% tariffs on EU steel and aluminum exports to the United States, but at the same time allow a certain number of EU steel and aluminum products to be imported into the United States duty-free. .

The EU will abolish the 50% retaliatory tariffs that it originally planned to impose on American motorcycles, whiskey and other products.

  Raimondo said that in the past year, the cost of steel for manufacturers in the downstream industries in the United States has more than tripled, which has led to an increase in the prices of products such as automobiles and household appliances.

The agreement will ease the pressure on the supply chain and reduce production costs.

  The United States and the European Union also agreed to cooperate in the use of trade tools to address global steel and aluminum overcapacity issues, and at the same time solve the carbon emissions problem of the steel and aluminum industry in order to cope with the challenges of climate change.

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