The United States and the European Union will meet today in Pittsburgh to negotiate new rules and standards to strengthen trade ties. The European Commission split earlier in the day after France recommended a postponement of the summit.
The European Union and the United States will discuss technology standards at the trade summit. Consider production standards, for example. We want imported products to meet our standards, and so does the United States. It’s mostly about the details, and they have to admit it, “said Hon de Jong, a BNR-based economist.” A lot of preparations have already been made ahead of the summit.
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But there are also many difficult issues in the background. “Like the defense agreement recently signed by the United States, the United Kingdom and Australia, the AUKUS Security Agreement also plays a role in import tariffs,” de Jong said. The response was mixed, but then he began to take action against his allies, who imposed a 25 per cent import duty on European steel, saying that Europe had imposed tariffs on Harley-Davidson and Bourbon.
With the arrival of the new president, De Jong hoped that this would change very quickly. “Americans now have on the table a plan that lower rates apply to European steel, but to a certain amount of steel,” De Jong says. Basically, for him, not much has changed.
Boris Johnson met with Joe Biden last week because he was eager to sign a bilateral trade agreement with the Americans. Then they said no. According to De Jong, pushing the British aside would be an opening for Europeans to continue at today’s peak.
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