On the sidelines of the Group of 20 Summit this week, European Union officials and the Biden administration put together a deal to ease the tariffs on E.U. steel and aluminum imports into the U.S. while eliminating retaliatory duties from the E.U. on several U.S. goods. Rod Bain reports the new transatlantic collaboration agreement that agriculture leaders from both the U.S. and European Union agreed upon centers on agriculture’s role in sustainability and climate change.
National Corn Growers Association President Chris Edgington said, “This is an important step for America’s corn farmers and a step toward restoring our trading relationship with the European Union. We were dragged into a trade dispute that did not involve us, and we are highly appreciative of the Biden administration for this development.”
One of the goods benefiting from the elimination of the retaliatory duties from the E.U. is U.S. corn.
More details on the agreement can be found on the USTR factsheet.