Europe

The European Union this week moved to update its industrial strategy by issuing a legislative proposal aimed at reining in foreign subsidies in non-market economies, laying out a strategy to deal with strategic supply chain dependencies, and continuing efforts to reach out to allies, especially in critical areas.

“Our trade negotiator just got on the job. So she’s taking the time to go back and review everything that was discussed.”

“It is important for our members, already drastically affected by the economic impact of the pandemic, to be able to rely on the continued suspension or complete removal of these tariffs after July 2021.”

Tai said the U.S. is prioritizing working with the EU to address steel and aluminum overcapacity.

Biden “wants to look at that and see” if a carbon border tax is “something that we need to deploy,” Kerry said.

U.S. Trade Representative Katherine Tai will participate in the White House’s “Leaders Summit on Climate” this week, according to the State Department, which also confirmed that Chinese President Xi Jinping will speak.

Harley-Davidson says it will fight the revocation of a customs decision that determined motorcycles from the company’s plant in Thailand would not be subject to tariffs the European Union imposed in retaliation for U.S. duties on steel and aluminum imports.

The Treasury Department on Friday added Taiwan to a list of countries that meet its currency manipulator criteria, which also includes Vietnam and Switzerland, but said there was insufficient evidence that any of the three was using foreign exchange intervention to gain an advantage and did not affix the “currency manipulator” label to them.

More than four dozen lawmakers are pressing U.S. Trade Representative Katherine Tai to negotiate an agreement to end all tariffs on distilled spirits and wine between the U.S. and Europe, arguing the U.S. whiskey industry, in particular, has suffered significantly and will face an even larger burden when tariffs increase on June 1.