![]() On 10 September 2018, Commissioner Malmström held a meeting with US Trade Representative (hereinafter, USTR) Robert Lighthizer in Brussels. Both sides agreed that, while the work of the ‘ Executive Working Group’ was ongoing, they would not go against the spirit of the agreement reached, unless either party were to terminate the negotiations. ![]() The EU and the US decided to set up an ‘ Executive Working Group’ to take this agenda forward, which is also tasked with identifying short-term measures to facilitate commercial exchanges and assess existing tariff measures. Notably, the EU agreed to import more liquefied natural gas (LNG) from the US to diversify its energy supply 3) To launch a close dialogue on standards in order to ease trade, reduce bureaucratic obstacles, and reduce costs and 4) To join forces to better protect US and EU companies from unfair global trade practices by working closely together with like-minded partners to reform the WTO and to address unfair trading practices, including intellectual property theft, forced technology transfer, industrial subsidies, distortions created by state owned enterprises, and overcapacity. Both leaders agreed to a number of initiatives: 1) To work together toward zero tariffs, zero non-tariff barriers, and zero subsidies on non-auto industrial goods and to work to reduce barriers and increase trade in services, chemicals, pharmaceuticals, medical products, as well as soybeans 2) To strengthen EU-US strategic cooperation with respect to energy. In view of threats by the US Administration to similarly impose additional tariffs on car imports from the EU, US President Trump and the President of the Commission Jean-Claude Juncker, on 25 July 2018, held a meeting on trade-related issues in Washington, DC. On 20 June 2018, the European Commission (hereinafter, Commission) adopted the EU’s ‘ rebalancing measures’ in response to the US tariffs, targeting a list of US products worth EUR 2.8 billion. The US granted temporary exemptions, inter alia, to the EU, but, on, the US Administration decided not to extend such exemption and, on 1 June 2018, imposed tariffs on steel and aluminium imports also from the EU. On 8 March 2018, US President Donald Trump exercised his authority under Section 232 of the Trade Expansion Act of 1962 and imposed a 25% tariff on steel imports and a 10% tariff on aluminium imports, allegedly in order to protect US national security (see Trade Perspectives, Issue No. However, in view of the recent rhetoric, it remains uncertain if both sides will be able to agree on a WTO-compliant package any time soon. Since the summer of this year, the EU and the US have been engaging in trade negotiations on a number of specific trade issues and further meetings are scheduled for November. ![]() It appears that both sides have very different perspectives on the negotiating approach, with the US reiterating the possibility to impose additional tariffs on car imports, should the trade talks not lead to results in the near future. Earlier, on 16 October 2018, US Secretary of Commerce, Wilbur Ross, held a meeting with European Commissioner for Trade, Cecilia Malmström, during which they discussed the status of the ongoing trade negotiations. Slow progress in EU-US trade negotiations, contentious exchanges at the WTO, and the return of threats to impose additional tariffs on carsĭuring the week of 22 October 2018, the EU-US ‘ Executive Working Group’ on trade issues reportedly held meetings in Washington, DC.
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