https://sputnikglobe.com/20231021/eu-blames-lack-of-us-clarity-as-trade-talks-remain-stalled-1114384484.html
EU Blames Lack of US Clarity as Trade Talks Remain Stalled
EU Blames Lack of US Clarity as Trade Talks Remain Stalled
Sputnik International
The US and EU face trade disagreements, primarily due to unclear US plans to lift old tariffs. This has caused a stalemate in steel trade talks. If no resolution is reached by year-end, billions in tariffs could return. Additional disputes involve carbon fees, agriculture rules, data privacy, regulating tech US giants, etc.
2023-10-21T15:06+0000
2023-10-21T15:06+0000
2023-10-21T15:06+0000
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The lack of clarity from the US regarding when it will lift trade sanctions against the EU prevented an agreement on steel trade this week. Valdis Dombrovskis, the European Commission’s executive vice president and chief trade negotiator for the bloc, stated that removing trade restrictions would have resolved the ongoing dispute, which traces back to the Trump administration.Dombrovskis stated that the US had pledged to eliminate Section 232 tariffs, which amounted to over $6 billion in lost revenue for EU steel and aluminum exports in 2018, along with implementing short-term tariff-rate quotas.US President Joe Biden, along with EU leaders Ursula von der Leyen (European Commission president) and Charles Michel (European Council president), intended to present an accord on the Global Arrangement on Sustainable Steel and Aluminum (GSA) during a White House summit.If an agreement remains elusive by year-end, tariffs may be reintroduced on exports worth billions of dollars between the EU and the US.The GSA negotiations aim to resolve a trade dispute that arose when ex-President Donald Trump imposed import tariffs on European metals, citing threats to national security. In response, the EU retaliated in kind. The negotiation process is currently mired in a standoff over whether the US will present a clear roadmap for the removal of tariffs and tariff-rate quotas. While the EU seeks to suspend these measures, the US insists on retaining them as a potential enforcement tool for ensuring future compliance with any agreement.Meanwhile, despite being allies, there is an unsettled impasse between the US and EU regarding the compliance of the arrangements with international trade regulations. Other unresolved disputes include:
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EU Blames Lack of US Clarity as Trade Talks Remain Stalled
Washington and Brussels are engaged in trade disagreements as it remains unclear how and when the US plans to lift its old restrictions. If no resolution is reached by year-end, billions in tariffs could return.
The lack of clarity from the US regarding when it will lift trade sanctions against the EU prevented an agreement on steel trade this week. Valdis Dombrovskis, the European Commission’s executive vice president and chief trade negotiator for the bloc, stated that removing trade restrictions would have resolved the ongoing dispute, which traces back to the Trump administration.
Dombrovskis stated that the US had pledged to eliminate
Section 232 tariffs, which amounted to over $6 billion in lost revenue for
EU steel and aluminum exports in 2018, along with implementing short-term tariff-rate quotas.
“The main stumbling block was the absence of clarity from the US side on a clear timeline and how the 232 tariff-rate quotas would be removed,” says the European Commission’s executive vice president, Valdis Dombrovskis.
US President Joe Biden, along with EU leaders Ursula von der Leyen (European Commission president) and Charles Michel (European Council president), intended to present an accord on the Global Arrangement on Sustainable Steel and Aluminum (GSA) during a White House summit.
If an agreement remains elusive by year-end, tariffs may be reintroduced on exports worth billions of dollars between the EU and the US.
The GSA negotiations aim to resolve a trade dispute that arose when
ex-President Donald Trump imposed import tariffs on European metals, citing threats to national security. In response, the EU retaliated in kind. The negotiation process is currently mired in a standoff over whether the US will present a clear roadmap for the removal of tariffs and tariff-rate quotas. While the EU seeks to suspend these measures, the US insists on retaining them as a potential enforcement tool for ensuring future compliance with any agreement.
“It’s clear that no one wants to go back to the Trump tariffs,” Dombrovskis said. “Agreement on how to move forward and any eventual deal needs the backing of all EU member states. We are in an asymmetric situation and our aim is to address this asymmetry and that’s why we’re insisting on clarity on when and how those tariff-rate quotas will be removed.”
Meanwhile, despite being allies, there is an unsettled impasse between the US and EU regarding the compliance of the arrangements with international trade regulations. Other unresolved disputes include:
The EU is introducing a
Carbon Border Adjustment Mechanism (CBAM) from October 2023, imposing fees on imports of carbon-intensive goods like steel, aluminum, cement, and fertilizer. Its goal is to discourage the outsourcing of carbon-intensive production (carbon leakage).
The EU’s regulations in agriculture restrict specific practices and uncertainties and delays in approving agricultural biotech. The US is concerned that the bloc's regulatory approach, while risk-based, may not always align with scientific principles.
Implementing the bilateral
Data Privacy Framework in March 2022 signifies a major stride towards harmonizing data protection standards. Engineered to mirror EU guidelines, this framework enables the unfettered transfer of personal data between jurisdictions. The discontinuation of the
Privacy Shield accord, driven by concerns over US surveillance practices, has paved the way for establishing this fresh framework. This abrupt invalidation has cast a cloud of uncertainty over the critical data exchanges that underpin business and investment between the US and EU.
Tensions persist between the European Union and the United States over Geographical Indications (GIs), labels attributed to specific regions for food, wine, and spirits. American producers firmly believe several of these terms are generic. This disagreement extends to the EU's pursuit of incorporating its GI system and allied policies within its expansive network of
Free Trade Agreements (FTAs) with various nations.
The European Union's strategy in regulating digital competition has emerged as a source of heated debate, particularly for US stakeholders who argue that it disproportionately impacts major American tech behemoths. In April 2023, the EU singled out specific US entities, designating them as "very large online platforms," thereby subjecting them to rigorous oversight stipulated in the Digital Services Act. Furthermore, the EU's strides in regulating other tech aspects, like Artificial Intelligence (AI), could deviate from established US approaches. Stakeholders make the case for increased collaboration within the Transatlantic Trade Council (TTC) to find common ground on these critical matters.
