President Joe Biden’s efforts to improve trade relations with Europe have resulted in a shift toward greater US reliance on imports from Europe than from China. The pivot came after the US and Europe shelved duties on bilateral trade worth $21.5 billion in 2021, paused an aircraft-manufacturing dispute dating to 2004, and launched talks to reduce overproduction of steel and aluminum. Over the past year, the value of US imports from Europe has increased by almost 13%, whereas US imports from China only grew by 6%. 


Source: www.business-standard.com