European Commission (EC) Vice-President and Head of Trade, Valdis Dombrovskis, and US Trade Representative, Catherine Tay, have been meeting since Monday to discuss trade disputes between the two parties ahead of tomorrow’s EU-EU summit in Brussels. United State. Among the issues to be dealt with by Dombrovskis and Tai are the trade disputes over the illegal public aid they respectively gave to airline manufacturers Airbus and Boeign, resulting in the imposition of individual tariffs.
The relationship between the European Union and the United States deteriorated during the presidency of Republican Donald Trump, particularly as a result of the imposition of tariffs of 25% on EU imports of steel and 10% on aluminum. The European Union responded to these measures with its own push of tariffs on several US products, including bourbon whiskey, peanut butter, berries and orange juice.
With Democratic nominee Joe Biden in the White House, both sides have signaled a willingness to ease tensions and re-establish trade relations. As a result, the European Union announced that it had temporarily suspended the implementation of a new round of measures in response to the US tariffs, which were due to take effect on June 1. In addition to finding comprehensive and lasting solutions to their disputes, both parties intend to commit to increasing their trade relationship, as well as strengthening the rules-based multilateral trading system. At the same time, they aspire to increase their technology collaboration and secure data flow systems.
The Vice President of the Community and US Representative also spoke about the EU-US Trade and Technology Council, an initiative launched last December that seeks to make the most of transatlantic cooperation and strengthen technological and industrial leadership, as well as business and bilateral expansion. investment. Specifically, it will focus on reducing trade barriers, developing compatible standards and regulatory approaches for new technologies, as well as ensuring supply chain security, deepening research collaboration, and promoting innovation and fair competition.
The United States and the European Union are each other’s main trading partners and investors. These investments allowed the creation of six million jobs, while boosting millions of additional jobs in the export and auxiliary sectors, according to community data.
Brief conversation between Sanchez and Joe Biden
The Spanish Prime Minister, Pedro Sanchez, had a brief exchange of words with his American counterpart on Monday, before the start of the NATO summit in Brussels. The Spanish government described the talk as a “short conversation” that can be viewed for 20 seconds in the official video provided by NATO. The CEO explained that the two departments agreed that the cameras would capture the salute “as evidence of the excellent relationship that exists between the two countries.”