Arab Press

بالشعب و للشعب
Sunday, Aug 02, 2026

US, EU Commit to Ending $18 Billion Tariff War Before End of Year

US, EU Commit to Ending $18 Billion Tariff War Before End of Year

The decision by Washington and Brussels to resolve all outstanding trade disputes before the end of the year comes after the European Union decided in May to waive automatic increases in tariffs on some US-made goods.

The US and EU will commit to ending their trade disputes and removing tariffs on aluminum and steel before the end of 2021, according to Bloomberg News, which viewed a document about the upcoming June 15 EU summit US President Joe Biden will attend.

According to the report, the topics set to be resolved include a dispute over state support for aircraft maker Airbus by the governments of Spain, France, Italy, and the UK. The World Trade Organization authorized US tariffs against $7.5 billion in EU exports in 2019, and the EU in turn was authorized to impose $4 billion of its own tariffs on US goods. In March, the US and EU reached an agreement to suspend tariffs on Airbus and Boeing for four months.

As early as December 2020, UE officials reached out to US President-elect Joe Biden about a change in trade policy between the US and the 27-member bloc. The dispute dates to 2018, when then-US President Donald Trump imposed a 10% trade penalty on aluminum and a 25% penalty on steel imported from the EU, calling them a threat to national security.

However, in response to the tariffs, the EU imposed its own on US goods in retaliation, including peanut butter, bourbon, denim, orange juice, and motorcycles, among other goods.

Trump imposed similar tariffs on China, not all of which were resolved by the Phase 1 trade deal agreed to in January 2020. The tariffs were part of his same populist appeal to sections of the US manufacturing sector, to whom he said he was saving American jobs by protecting US industries from foreign competition, which he called "unfair."

Biden Continues Pressure on Nord Stream 2


In May, the Biden administration also decided to drop sanctions imposed by Trump against Swiss pipelaying firm Allseas for its work on the Nord Stream 2 pipeline that caused the company to withdraw from the project. The 745-mile-long pipeline will carry up to 55 billion cubic meters of Russian natural gas to Germany annually. Washington has claimed the pipeline is a tool for Russia to apply political leverage over Western Europe and a deliberate bypassing of another pipeline through Ukraine, but Moscow has said the venture is purely economic in scope.

Russia is the world's second-largest producer of natural gas after the US and the largest provider of European gas. In 2018, Trump successfully pressured Berlin into building a liquified natural gas (LNG) facility and accepting US exports, and in December 2019 imposed sanctions on companies working with Russian state-owned firm Gazprom on Nord Stream 2.

However, while Biden dropped the Trump-imposed sanctions, he also imposed blacklisted 13 Russian ships and three Russian firms working on the project. US Secretary of State Antony Blinken said on Monday the US could also rescind a waiver given to Nord Stream AG, the company overseeing construction of the pipeline, if Russia were to "use gas as a coercive tool or weapon against Ukraine or anyone else."

On Friday, Russian President Vladimir Putin revealed the first leg of the $11 billion pipeline had been completed, in spite of pressure from Washington.

Newsletter

Related Articles

Arab Press
0:00
0:00
Close
Finland Deploys Commercial-Scale Thermal Batteries Using Crushed Rock to Store Renewable Grid Energy
Valued at $109 Million: F-35B Fighter Jet Crashes in Southern California
US Says It Has Carried Out Heavy Strikes on Iran After Attempted Attacks on Its Forces
Over 24 Hours in the Air: Qantas Airbus Completes Record-Breaking Test Flight
Arrest Warrant Issued in Lebanon for Tycoon Spotted Meeting Netanyahu in Washington
Trump says Israel ‘would not survive’ without US
Nvidia Reportedly Takes Vast Texas Data-Centre Lease to Underwrite AI Expansion
FIFA’s Private-Investment Plan for World Cup Rights Draws European Revolt
Following OpenAI's Cyberattack: 'Most Companies Still Do Not Understand What Is Coming'
OpenAI Sued After ChatGPT Allegedly Discouraged Emergency Care Before Near-Fatal Embolism
Miliband Sets Climate and International Law at Centre of UK Diplomacy
Pentagon Discloses Nearly 100 US Troop Injuries During Renewed Iran Fighting
Trump Readies New Tariffs as Temporary Global Levy Nears Expiry
High Prices Push Coffee Drinkers Toward Whole Beans and Home Brewing
Trump Draws Boos and Podium Scrutiny at Spain’s World Cup Triumph
Spain Defeats Argentina in Extra Time to Win Second World Cup
Turkey Explores S-400 Transfer to UAE in Bid to Rejoin F-35 Program
US Retaliates Against Iran After Two American Troops Killed in Jordan
Proposed U.S.-Saudi Nuclear Pact Could Permit Limited Uranium Enrichment Under International Safeguards
Why Kentucky Fried Chicken Became KFC—and Why the False Explanations Persist
Iran Claims It Destroyed Bahrain’s Main Artificial Intelligence Center in Missile and Drone Strike
Ukrainian Drones Strike Wildberries Warehouses Deep Inside Russia
Reported CIA Mission Helped Clear the UAE’s Path to Advanced US AI Chips
Artificial Intelligence Capital Fuels Markets While Governments and Regulators Face Mounting Strategic Tests
China’s Moonshot’s Kimi K3 Narrows the Gap With Anthropic Through Scale, Openness and Lower Cost
The Ledger Will Not Trust on Faith
Passenger Bound for Germany Refused to Sit Beside a Woman on a Plane — Then Slapped a Flight Attendant
Ukraine’s Leadership Rift Spills Into the Streets as Protesters Target Army Chief
The Ten World Cup Finals That Defined Football History
Smartphones Are Getting More Expensive, Sales Are Collapsing, and Even Apple Admits: "Prices Will Rise"
Leadership Change and Strategic Rivalry Redraw the Political Map
The AI Race Enters Its Infrastructure Era
Britain Nationalises British Steel to Protect Scunthorpe Production and Strategic Supply
Thomas Tuchel Faces Fierce Backlash After Tactical Retreat Costs England World Cup Final Berth
A Quiet Bastille Day: France Grapples with World Cup Heartbreak and Leftover Fireworks
Spain in Ecstasy: "We Feel Unbeatable, We Taught the Whole World a Lesson"
Harvard Astrophysicist to Lead U.S. Scientific Advisory on Unidentified Aerial Phenomena
Emergency Sirens Activated Across Bahrain as Interior Ministry Issues Shelter Directives
World Cup Visitors Turn American Big-Box Stores Into Souvenir Stops
Netflix Weighs Always-On Channels, Bundles and Short-Form Video
The AI Invoice Shock: Layoffs Didn't Save Managers Money — They Cost Them More
Concern: Sexually Transmitted Bacterium Among Men Develops Antibiotic Resistance
Passenger Partially Pulled Out of Ryanair Jet After Cabin Window Fails Mid-Flight
Severe Heatwave Drives Dangerous Ground-Level Ozone Pollution Across Two Thirds of European Union
The Physical and Electronic Barriers Disrupting Domestic Wireless Networks
France and Morocco Open World Cup Quarter-Finals as Collina Defends Refereeing
Tech Pulse: The Future of AI and Screen Culture
Global News Briefing: Escalating Geopolitical Tensions and Corporate Shakeups
Global News Brief: Escalating Conflicts, Public Health Crises, and World Cup Drama
Europe's Growing Struggle with Extreme Heat and Air Conditioning
×