Senators Take Credit for EU Tariff Suspension
After the EU decided to extend its suspension of retaliatory tariffs on U.S. whiskey, motorcycles and other products, several senators took credit for pushing the U.S. trade representative to achieve that result.
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Sen. Catherine Cortez Masto, D-Nev., said: "There are more than 19,000 Nevadans whose jobs depend on the American spirits industry, and I’m pleased to see the Administration taking action to protect them from these harsh new tariffs on our exports."
“The spirits industry plays a vital role in Virginia’s economy, and we’re glad to see the Biden administration acted quickly to protect the thousands of Virginia jobs that rely on it,” Virginia's two Democratic senators -- Tim Kaine and Mark Warner -- said. “We’ll keep working to reach a permanent solution that will protect the industry from harmful retaliatory tariffs.”
The EU says it's waiting for a return to open trade in steel and aluminum, as there was before former President Donald Trump imposed 25% tariffs on EU steel and 10% tariffs on EU aluminum, saying the imports of those metals imperiled national security. EU exports are now constrained by tariff rate quotas, and while those quotas have spared importers about $1.6 billion in tariffs annually, importers still pay about $350 million in tariffs for goods that exceed the quotas.