Biden: US-EU Steel and Aluminum Trade Agreement

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President Biden and European Commission President Ursula von der Leyen held a joint press conference to announce a new US-EU deal on steel and aluminum trade.

Biden was Monday’s KVML “Newsmaker of the Day”. Here are his words:

“Good afternoon, everyone.

I am here with the President of the European Commission von der Leyen, who has been a great partner as the United States and the European Union have achieved a major breakthrough that will help tackle the existential threat of climate change while protecting American jobs and American industry.

Together, the United States and the European Union are ushering in a new era of transatlantic cooperation that will benefit all of our citizens, both now and, I believe, in the years to come. It’s a testament to the power of our strong partnership and what the United States can accomplish by working with our friends.

Here’s what this deal does: It immediately removes tariffs on the European Union – on the European Union on a range of American products and cuts costs for American consumers. It guarantees a strong and competitive American steel industry for decades to come and creates well-paying union jobs in the country. And – and – it demonstrates how by harnessing our diplomatic and economic power, we can reject the misconception that we cannot grow our economy and support American workers while fighting the climate crisis; we can do these three things. We can and we must do both.

American workers are a central part of the solution to the climate crisis. And I would say – I’ve said this before, or – that when I think of climate, I think of jobs; I think of the high paying jobs in the world. You know, I think it’s possible for us to do both, like I said. And workers are a central part of this solution.

On the strength of our close partnership on our common values, the United States and the European Union are committed to negotiating a carbon agreement on trade in steel and aluminum. This – these arrangements will, on the one hand, drive up the aluminum and steel of the United States, which are among the greatest steels in the world – it is somewhat detrimental on my behalf; encourage emissions reductions in one of the most carbon intensive sectors of the global economy; restrict access to our markets for dirty steel from countries like China; and counter the countries that dump steel on our markets, hammering and harming our workers severely, as well as industry and our environment.

Today is a testament to the power of American diplomacy and strong partnerships to deliver tangible benefits to American workers and middle-class families in America.

I thank Gina Raimondo and the Ambassador – our Secretary – and Ambassador Katherine Tai for their leadership in making this happen. But they had a really great person to work with to make it happen. And I would like to thank the President of the European Commission von der Leyen for her, her team and her partnership. She was straightforward from the start as we worked to find a creative solution that benefited all of our employees.

Over the past nine months, the United States and the European Union have come together to address the great global challenges by turning to all that unites us and the common interests we have both in Europe and in the United States. United.

We have resolved the 17-year Boeing-Airbus dispute. And we’ve been close partners of – to fight COVID-19 and fight climate change.

As we move forward, together we will continue to update the rules of the road and the 21st century economy, and prove to the world that democracies – democracies – tackle tough problems and propose smart solutions. And the European Union and the United States will continue to be our closest friends and partners as we work together to solve the challenges of the 21st century.

So thank you again, President von der Leyen. And now I’m handing over the podium to you. Thank you.”

CHAIRMAN VON DER LEYEN: Thank you very much.

PRESIDENT BIDEN: I think I’m over there.

PRESIDENT VON DER LEYEN: Thank you very much, Mr. President, dear Joe. Thank you so much.

And I am also very happy to announce that, Mr President, you and I have agreed today to suspend tariffs on steel and aluminum and to start work on the new global agreement on sustainable steel. .

And this marks an important step in the renewed EU-US partnership. And this is our world first in our efforts to achieve decarbonization of global steel production and trade.

This is a big step forward in the fight against climate change. The arrangement is, of course, open to all like-minded partners. Steel manufacturing is one of the highest sources of carbon emissions in the world.

And for the consumption and trade of steel to be sustainable, we must tackle the carbon intensity of the industry. We also need to tackle the problems of overcapacity. And that is the purpose of the Global Sustainable Steel Agreement.

We will work with the United States to ensure the long-term viability of our industry and to encourage the production and trade of low carbon steel.

This new global initiative will add a powerful new tool in our quest for sustainability. It will be a big step forward towards climate neutrality. And that will ensure a level playing field for our industries.

This is another key initiative for our renewed and forward-looking transatlantic agenda with the United States.

Since the beginning of the year – as you said, Mr President, dear Joe – we have restored trust and communication. We have ended our disputes over aircraft subsidies. We have created our Trade and Technology Council. We have created a vaccine partnership. We have reached an agreement on the global minimum tax. And now we have found a solution on the trade in steel and aluminum between the EU and the United States.

Thank you, Mr President, dear Joe, for your announcement that the US will remove US tariffs on EU steel and aluminum up to previous trade levels. This will alleviate many of the existing business irritants. This will allow trade – the transatlantic trade in steel and aluminum between us to return to the levels recorded before these tariffs were put in place.

And following this American decision, I am pleased to announce that the Commission will also propose to suspend the tariffs that we had introduced.

I am also pleased to join President Biden in announcing the suspension of our dispute on this issue in the World Trade Organization.

And as you did, Mr. President, dear Joe, I would like to thank Secretary of Commerce Gina Raimondo, United States Trade Representative, Ambassador Katherine Tai, and Executive Vice President Valdis Dombrovskis for their tireless efforts. and those of their team over the past month. This is a big step forward in our renewed relationship, and thank you very much for it. I look forward to working more on this deal.

Thank you so much.

PRESIDENT BIDEN: Thank you.

CHAIRMAN VON DER LEYEN: Thank you very much.

PRESIDENT BIDEN: Thank you, friends.

The “Newsmaker of the Day” airs every weekday morning at 6:45 am, 7:45 am and 8:45 am on AM 1450 and FM 102.7 KVML.


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