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US President Joe Biden announced a two-year extension of the decision to suspend customs duties imposed by his predecessor, Donald Trump, on steel and aluminum imports from the European Union, while negotiations continue.
Biden said that he decided to extend the suspension period that he announced two years ago until December 31, 2025, while the two parties are still far from resolving the conflict that has been going on for years.
“I have decided that certain amounts of eligible steel imports from the European Union will no longer threaten to undermine national security,” Biden said in a statement.
In 2018, then-US President Donald Trump imposed high tariffs on steel and aluminum imports from several countries, a move largely aimed at protecting American producers from cheaper Chinese imports.
But the widespread restrictions also affected imports from the European Union, prompting the bloc to impose retaliatory duties on American goods.
After taking office in 2021, Biden kept the tariffs in effect but suspended their imposition on imports from the European Union, and the exemption was scheduled to expire at the end of 2023.
The widely expected extension comes just over two weeks after the European Union confirmed it would suspend its retaliatory tariffs due to its “intensive engagement” with the United States.
Source: Agence France-Presse