Joe Biden would accept Iran conflict as 'last resort' says expert
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His predecessor, Donald Trump, sparked the trade disputes with Europe during his presidency. It has cause Mr Biden to inherit the heavy burden of reversing Mr Trump’s trade war.
Last week, the EU and US decided to suspend tariffs used in the longstanding Airbus-Boeing dispute.
The European Commission President Ursula von der Leyen said that after discussions with Mr Biden both sides “committed to focus on resolving our aircraft disputes, based on the work of our respective trade representatives.”
Mr Trump had previously hit the EU with tariffs on £5.6billion worth of goods in retaliation for state support given to Airbus.
The EU responded with tariffs on £3billion of American goods over subsidies to Boeing.
Since leaving the bloc, the UK provided an olive branch to the US by announcing its decision to suspend tariffs from January.
Last week, Washington suspended charges on the UK for four months.
However, analysts have warned that Mr Biden now faces a more imminent problem with another load of hefty EU tariffs incoming.
The EU imposed tariffs on the US in retaliation to Mr Trump’s duties on steel and aluminium.
The duties from the EU are due to more than double on June 1 impacting exports including bourbon whiskey, jeans, orange juice, yachts, peanut butter and Harley-Davidson motorbikes.
When Mr Trump ignited the trade war in 2018, he controversially claimed “national security” as a reason for implementing the duties.
The EU’s doubling of tariffs is an automatic part of the bloc’s response to the US duties in 2018.
The increase in tariffs mean US bourbon will face additional duties of 50 percent up from the current 25 percent.
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Brussels and Washington have expressed their desire to avoid the increase.
However, Mr Biden is facing internal pressure from steelmakers, unions and some Democrats to keep the steel duties.
But makers of bourbon have raised their concern over the doubling of the tariffs.
Lawson Whiting, President and Chief Executive of Brown-Forman, the company behind Jack Daniel’s and other spirits, told Politico: “The steel and aluminium dispute is still hurting American whiskey consumers, workers and companies on both sides of the Atlantic.
“More harm will be caused if tariff rates double on June 1.”
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