Any ideas how to remove this?

That is a return line clamp. I would just cut the clamp screw, then unfold the clamp off of the hose. Or cut the wire where it loops around the clamp screw and peel it off that way. Dremel, cut off tool or even a mini hacksaw would work.

Thank you, I'll look into those and order them today. Would I be wrong in trying to drain the power steering fluid from there then?

You can get some of it out through that line, but if you are trying to change the fluid you can do it a bit faster by flushing, For that you would disconnect that line and run the open end into a bucket. That fitting looks like it goes to a cooler loop so the fluid is pumped through it on the way back to the pump. Depending on which side of the loop it's on you may not get any fluid out of it without the engine running. If you want to change the fluid out you can disconnect the line there and then run a couple of pieces of hose from them into a bucket, have someone start the engine and see which one fluid comes out of and shut the engine off. Then take the one with no fluid out and plug it, Now open the reservoirs top and fill it with fluid and have someone start the engine, with it at an idle keep the fluid topped up while they turn the steering fully left then fully right. The old fluid will be pumped into the bucket while the new flushes the system out. Once the fluid coming out is the newer clean fluid you shut off the engine, reconnect the hoses and top up the reservoir.

This covers the process:

https://www.2carpros.com/articles/power-steering-fluid-flush

Alright, thank you again. Yes, I was hoping to perform a full flush through there because I didn't have any plugs or hoses for the other method.

Using the pump will work just fine and is how most flush machines work as well. Just be sure to keep the reservoir full to keep air out of the system.