Joe Biden to sustain tariffs on UAE's aluminum products
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Update time : 2021-02-03 16:57:03
The White House reported that Joe Biden, the newly elected President of the US, would sustain a 10% tariff rate on aluminum products imported from UAE, which totally reversed Donald Trump’s move to terminate the tariffs on his last day.
In January 2021, the US side announced that they would exempt the UAE from the tariff on most aluminum imports. However, the Biden administration last week said that the deal was temporarily paused, which needed a further review.
President Joe Biden said that imports from UAE might damage domestic production. In order to protect domestic manufacturers, the import tariff would remain.
Aluminum products are UAE’s largest exported goods by value to the US. In 2019, this Gulf nation exported around US$1.3 billion worth of the metal to US customers.
The US data showed that a 25% reduction in aluminum imports from the UAE and an increase of 22% of consumption in domestic production after the tariff carried out.
