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reDemocratic presidential candidate Joe Biden, according to his adviser Tony Blinken, would end the trade conflict between the United States and the EU. “The EU is the largest market in the world, we have to improve our economic relations,” Blinken, who advises Biden on foreign policy issues, said at a virtual Chamber of Commerce event. “And I think we have to end an artificial trade war that the Trump administration started.”
The trade conflict between the United States and the EU has escalated under Republican President Donald Trump. Trump introduced special tariffs on steel and aluminum imports because he considers that the export surplus from EU countries to the United States is unfair and dangerous for the security of his country. The EU had responded with retaliatory tariffs on US products. Trump has repeatedly threatened punitive tariffs on car imports from the EU, which would hit German automakers particularly.
Possibility of more trade
Biden faces Trump in the November 3 election. Blinken said Tuesday there was “wide scope” to increase trade between the United States and the EU. He criticized, however, that there is “a growing imbalance in the trade of agricultural products due to rules that prevent us from selling products where we are very competitive.”
In light of the tensions, the vice president of the EU Commission, Valdis Dombrovskis, urged the United States last week to work together. The EU and the United States must work closely together to ensure the recovery of the world economy, he said. In the future, Dombrovskis will be responsible for EU trade policy as the successor to the resigned Phil Hogan.
