On May 17th 2021, United States Trade Representative Katherine Tai, U.S. Secretary of Commerce Gina Raimondo, and European Commission Executive Vice President Valdis Dombrovski had a virtual meeting in which they discussed the future of US-EU trade relations. According to a joint statement, they “announced the start of discussions to address global steel and aluminum excess capacity. During a virtual meeting last week, the leaders acknowledged the need for effective solutions that preserve our critical industries, and agreed to chart a path that ends the WTO disputes following the U.S. application of tariffs on imports from the EU under section 232.”

How do we use our tools of trade? Is trade beneficial to everyone or just some? What about our partners and allies: is it best to have free trade with them at all times? If so, what if they affect us badly, do we let that go or should we retaliate with tariffs and sanctions? Do you think it was the best decision for the US and the EU to escalate their differences and work together?