The executive vice-president for economy and trade at the European Commission, Valdis Dombrovskis, said on Tuesday that Brussels was assessing an executive order recently signed by US President Joe Biden, which intends to support domestic businesses and require federal government agencies to buy American products
BRUSSELS (Pakistan Point News / Sputnik - 26th January, 2021) The executive vice-president for economy and trade at the European Commission, Valdis Dombrovskis, said on Tuesday that Brussels was assessing an executive order recently signed by US President Joe Biden, which intends to support domestic businesses and require Federal government agencies to buy American products.
The executive order, signed on Monday, directs US federal agencies to close existing loopholes in how domestic content is measured and increase domestic content requirements. It also increases oversight of potential waivers to domestic preference laws and requires additional measures to support the US economy, such as conducting cross-agency reviews and supporting federal programs to purchase domestic products.
"We need to do this analysis before commenting in detail, but in general you will recall we are working for open procurement markets everywhere in the world," Dombrovskis told reporters.
Many European leaders have expressed hope that the trade war between the European Union and the United States, which broke out after former US President Donald Trump's administration slapped tariffs on steel and aluminum imported from the EU two years ago, may come to an end after Biden entered the White House.
