The American Soybean Association and several other groups are calling on the Biden Administration and European Commission to immediately remove, or at least suspend, all additional and retaliatory tariffs implemented since 2018 due to disputes over aircraft subsidies and steel and aluminum trade.
In a letter this to President Biden and President Ursula von der Leyen, the groups underscored the economic hardships faced by their industries—from ongoing tariff uncertainty to COVID-19 impacts—and urged swiftly reestablishing a cooperative trading relationship.
In the letter, the groups stated:
“Since 2018, our industries, suppliers and supply chains have been negatively impacted by the imposition or threat of tariffs in these disputes, which are wholly unrelated to our sectors. Without a doubt, 2020 has been a particularly difficult and tragic year. The COVID-19 pandemic and the necessary closings of non-essential businesses continue to affect the global economy, including our sectors which support millions of jobs on both sides of the Atlantic. The ongoing EU-U.S. trade disputes and additional tariffs which continue to plague Trans-Atlantic trade have made a bad situation worse. With the damages we have suffered last year and are still suffering, the current situation cannot be allowed to go on any longer,” groups stated in the letter. “We believe immediate suspension of these tariffs is a necessary and fundamental action, which will provide an economic stimulus at a time when it is needed most.
“Our industries support a constructive and flourishing trade and economic relationship between the U.S. and EU. Removal of these tariffs will provide the positive momentum to reset the important bilateral relationship and cooperative efforts to address global economic challenges. In addition, a shared commitment to avoid new additional tariffs will create the necessary certainty and stability needed to grow the Trans-Atlantic economy.”