ABD-AB Trade Talks: The Search for Critical Tariff Reductions

Important Talks Begin Between the U.S. and the EU

The European Union,
shared information that no agreement would be reached regarding the reduction of tariffs for steel and other products in the first round of important talks.

Main Agenda: Evaluation of the Situation Between the Two Countries

The EU Commissioner for Trade and Economic Security Maros Sefcovic stated in a press conference before the talks, "The main agenda of the first meeting will be an overview of the current situation between the two countries."

Ministers to Meet in Brussels

U.S. Secretary of Commerce Howard Lutnick and U.S. Trade Representative Jamieson Greer will meet in Brussels for the first time since the EU-U.S. trade agreement in July. In that agreement, a 15% tariff was set by the U.S. on many EU goods.

Tariff Administrative Corrections and Bilateral Relations

The EU had promised to eliminate tariffs on certain agricultural and food items for U.S. manufactured goods. Both sides have announced that they will continue to work on reducing tariffs, including on EU steel and aluminum.

Lutnick and Greer will evaluate the agreement during a dinner with EU trade ministers. Sefcovic stated, "This meeting will also be a political assessment of EU-U.S. bilateral relations."

Increased Pressures from Washington

EU officials are expected to exert pressure on Lutnick and Greer regarding Washington's decision to expand the 50% tariff on aluminum and steel.

Critical Agreement Still Pending

The U.S. expressed concerns that the EU is not implementing the agreement quickly enough, citing that it has not yet received formal approval from the European Parliament. Additionally, Washington is pushing for the EU to ease its digital and environmental regulations.