The European Union has emphasized that the priority of this visit—considered the starting point of critical contacts—will be to conduct a comprehensive assessment of the current situation.
EU Commissioner for Trade and Economic Security Maros Sefcovic said in a briefing with journalists ahead of the talks, “The main agenda of the first meeting will be reviewing the current state of play between the two sides.”
U.S. Commerce Secretary Howard Lutnick and U.S. Trade Representative Jamieson Greer, who will arrive in Brussels this week, will be holding their first talks in the EU since the trade agreement signed between the two sides in July. Under that agreement, the U.S. imposed a 15% tariff on many EU-origin products, while the EU pledged to remove tariffs on certain agricultural and food products, as well as some U.S. industrial goods. Both sides also agreed to continue working toward reducing tariffs on EU steel and aluminum.
Lutnick and Greer will meet with EU trade ministers at a working lunch in Brussels to discuss the implementation of the agreement. Sefcovic noted that the meeting would also include “a political assessment of EU-U.S. bilateral relations.”
EU officials are expected to raise concerns particularly about Washington’s decision to expand the 50% tariff applied to aluminum and steel. Washington, on the other hand, argues that Brussels has been slow in implementing its commitments because the agreement has not yet been formally approved by the European Parliament. The U.S. administration is also continuing to press the EU to soften obligations related to its digital and environmental regulations.
Source: Bloomberg
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