Biden axes trade tariffs to EU in gushing speech 'Closest of friends' - Remainers gloat

Joe Biden announced in a speech at the end of the G20 Summit in Rome the US and the European Union had agreed to a carbon-based arrangement on aluminium and steel. President Biden also confirmed tariffs introduced on such traded goods under his predecessor Donald Trump in 2018 would be removed. Mr Biden remarked the deal with the "closest of friends" marked an important step in the US' relationship with the bloc.

Mr Biden said: "The United States and the European Union have reached a major breakthrough that will address the existential threat of climate change while also protecting American jobs and American industry

The US leader said the deal immediately removed tariffs on the European Union steel and aluminium, imposed by the previous administration, and lowered costs to US consumers.

Biden has sought to mend fences with EU allies after Trump's "America First" presidency to more broadly confront China's state-driven economic practices that led to massive excess production capacity in steel that has flooded global markets.

Under the new agreement, to run for two years, the Trump-era tariffs will remain but only for imports of the metals exceeding set quotas.

European Commission Vice President Valdis Dombrovskis, who oversees trade for the 27-nation bloc, described the deal as a pause rather than an end to the dispute.

"It's a major step in the right direction... but it's really not the final destination, which should be a complete withdrawal of the tariffs," he told a media briefing.

The deal should also bring to an end EU retaliatory tariffs on products ranging from U.S. bourbon to Harley Davidson motorbikes. The EU had planned to double many of the tariffs in December.

The new agreement will allow the US and the EU to remove tariffs of more than $10 billion (£7.3 billion) of exports every year.

US Commerce Secretary Gina Raimondo, who has been leading negotiations with Commissioner Dombrovskis, welcomed the "successful" deal.

Ms Raimondo said: "We’ve reached an agreement with the EU which maintains the 232 tariffs, but allows limited volumes of EU steel and aluminum to enter the U.S. tariff-free.

"It was a very successful negotiation and we agreed on a way forward for how to face our shared challenge which is global excess capacity mainly by China.”

International Trade Secretary Anne-Marie Trevelyan confirmed following Mr Biden's press conference that the UK is also now in talks with the US to tackle the "impacts of overcapacity on the global steel and aluminum markets."

The President's announcement sparked an immediate reaction from Remainers pointing out the new agreement signalled a step back for Brexit Britain.

Twitter user @PifflePatter said: "Biden giving a statement about the tariffs deal the US has struck with the EU and the strength of "our partnership", stressing what "unites us" as "the closest of friends".

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"I'm old enough to remember when Brexit Britain was going be at the front of the queue etc...#G20"

Julie Street said: "Just listening to Biden's G20 speech ..... at least 4 times he has mentioned the partnership between the US and EU.

"Thanks to this Govt we are now officially out in the cold, irrelevant and f***ed. #JohnsonOut."

Twitter user James Woodley commented: "Did you notice Joe Biden's speech - America and EU are partners who will tackle climate change & global trade - no mention of "global" Britain."

And Fatima Duerden noted: "Great spirit of cooperation in new trade initiatives between USA & EU! To see/hear @vonderleyen addressing the G20 and @POTUS talking about reinforced collaboration makes me very happy, yet sad & angry that the UK - @BorisJohnson chose to no longer be part of it!"

News of the lifting was met with the approval of the Distilled Spirits Council as well after nearly three years of "sagging American Whiskey exports".

DSP President and CEO Christ Swonger said: "After three very difficult years of sagging American Whiskey exports, the EU and US are back to a zero-for-zero tariff agreement on distilled spirits, which has been instrumental to our export success and job creation on both sides of the Atlantic since 1997.

“Lifting this tariff burden on American Whiskeys not only boosts US distillers and farmers, it also supports the recovery of EU restaurants, bars and distilleries hit hard by the pandemic.

“With the removal of these EU tariffs, we are energized and ready to ramp up our American Whiskey promotions in the EU to re-introduce America’s native spirits to EU consumers and resume a great American export success story."