Top trade officials from the European Union and the United States are set to meet in Brussels today to discuss the full implementation of the trade agreement reached last July. The discussions will center around key issues such as reducing US tariffs on European steel and eliminating tariffs on a range of EU-produced goods.
US Commerce Secretary Howard Loutnik and US Trade Representative Jamison Greer will meet with their EU counterparts in their first visit to Brussels since assuming their respective roles. EU ministers are expected to raise pressing trade concerns, including China’s restrictions on rare earth minerals and chip exports.
Under the agreement finalized in July, the United States established a 15 percent tariff on most EU goods, while the EU agreed to eliminate several tariffs on American imports. However, the agreement’s full implementation could be delayed until next spring, pending approval from the European Parliament and individual EU member states.
The United States currently imposes a 50 percent tariff on metals. This same tariff has been applied since mid-August to the metallic content of 407 ‘derivative’ products, including motorcycles and refrigerators, with the potential for more derivatives to be added next month.
EU diplomats have expressed concern that such measures, coupled with the potential for new tariffs on trucks, critical minerals, aircraft, and wind turbines, threaten to undermine the July agreement. The EU is also seeking to expand the range of products subject to reduced US tariffs.
The meeting comes at a crucial time as both sides look to strengthen trade relations amid global economic uncertainty. The outcome of these discussions will likely have a significant impact on transatlantic trade flows in the coming months.
