Hello and welcome to the details of Biden, EU leaders to meet as trade tensions, Israel-Hamas war simmer and now with the details
Nevin Al Sukari - Sana'a - US President Joe Biden delivers a prime-time address to the nation about his approaches to the conflict between Israel and Hamas, humanitarian assistance in Gaza and continued support for Ukraine in their war with Russia, from the Oval Office of the White House in Washington October 19, 2023. — Jonathan Ernst/Pool/Reuters pic
WASHINGTON, Oct 20 — US President Joe Biden will discuss the Israel-Hamas war and stress unity on support for Ukraine when he hosts European Council President Charles Michel and European Commission chief Ursula von der Leyen today amid dimming hopes for resolving longstanding trade disputes.
Trade negotiators were scrambling yesterday to avoid the US resuming import tariffs on EU steel and aluminium imposed by then-President Donald Trump in 2018 before November.
The Israel-Hamas war, and a looming ground offensive by Israel into Gaza would likely dominate the discussions, von der Leyen said in Washington, warning about the risk of “regional spillover” from the conflict.
The Biden administration suspended tariffs on EU steel and aluminium imports on the condition that both sides agree by the end of this month on measures to address overcapacity in non-market economies such as China, and to promote greener steel.
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Any deal seems far off, with Washington keen that the EU apply the metal tariffs to imports from China and Brussels refusing to do so before a year-long investigation to comply with World Trade Organisation rules.
Also elusive appeared a deal to lessen the hit from the US Inflation Reduction Act, which offers consumers tax breaks to buy electric vehicles (EVs) assembled in North America.
One of the sources said the two sides had made some progress on an agreement that would allow EVs with EU-sourced critical materials — cobalt, graphite, lithium, manganese and nickel — to qualify for partial tax breaks, but were unlikely to finalise an agreement before today’s summit. — Reuters
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