US, UK hold talks to reverse Trump's tariffs on steel and aluminum
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In a joint statement, US and UK officials reveal their efforts to remove the tariffs implemented on steel and aluminum imports by the US.
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Workers ride on a motor rickshaw through an aluminum ingots depot in Wuxi, Jiangsu China, September, 2021. (Reuters)
The United States and the United Kingdom are working to reverse what was implemented by the Trump administration, as they try to resolve disputes over tariffs the US placed on imported steel and aluminum.
As the "serious threat" posed by the global capacity of the metals was cited - an issue China is rigorously blamed for - UK and US trade officials assert that they are "committed to working towards an expeditious outcome," as written in a joint statement.
Trump's tariffs, imposed on US allies, created tensions with trading partners by prompting reactions: London, for instance, responded with punitive duties on US imports.
The two sides sought "effective solutions": The meeting, virtual, was attended by US Trade Representative Katherine Tai and Commerce Secretary Gina Raimondo, as well as Britain's International Trade Secretary Anne-Marie Trevelyan.
The attendees "discussed the impact on their industries stemming from global excess capacity-driven largely by China. The distortions that result from this excess capacity pose a serious threat to market-oriented steel and aluminum industries in the United States and the United Kingdom, and to the workers in those industries."
In June 2018, Trump implemented 25% tariffs on steel and 10% tariffs on aluminum dispatching into the country, claiming to act on 'national security grounds.' In October, Washington and the EU signed a quota agreement to remove the tariffs, while also opening talks with Japan in November on the matter.
'Tariff Talks' with China
Last October, China held talks with the United States on canceling tariffs and sanctions, the Chinese Vice Premier Liu He said.
Under the Trump administration, the United States imposed tariffs on Chinese products worth $370 billion in 2018. Washington accuses "unfair" trade practices of this situation.
The Vice Premier held a virtual meeting with US Katherine Tai on Friday to discuss Chinese commercial practices that the United States deems 'unfair.'
"During their candid exchange, Ambassador Tai and Vice Premier Liu acknowledged the importance of the bilateral trade relationship and the impact that it has not only on the United States and China but also the global economy," the office of the Trade Representative said in a statement.
The discussions were "an opportunity for the United States and China to commit to forging a trade relationship that is managed responsibly," a USTR official said on condition of anonymity.
The representative underscored US concerns "relating to China's state-led, non-market policies, and practices that harm American workers, farmers, and businesses," the USTR said.
The Biden administration accuses China of creating "a heavily uneven playing field in trade" through its state subsidies for national companies and intellectual property theft.
