EU-US trade relations: reason has prevailed

Reacting to the results of the agreement reached between Presidents Juncker and Trump yesterday to work towards a trade agreement with zero tariff and non-tariff barriers and zero subsidies for non-auto industrial goods as well as on reforming WTO to address unfair trade practices, to refrain from new tariffs and resolve steel and aluminium tariffs and rebalancing measures,

BusinessEurope President Pierre Gattaz commented:

"Reason has prevailed. The agenda for talks between the EU and the US to de-escalate the current trade conflict is the right one. Eliminating tariffs and other barriers to trade and investment can bring benefits for businesses and citizens on both sides of the Atlantic. European business is ready to give its contribution in the discussions between the EU and the US. President Juncker and Commissioner Malmström did an excellent job."

BusinessEurope Director General Markus J. Beyrer added:

"The commitment to work jointly on the reform of WTO is also crucial. European business wants a level playing field with modern and effective rules. On WTO too, we are prepared to engage in the debate and bring constructive proposals to improve the world trading system."

"The fact the negotiations are now omitting automotive sector is actually good news. If the new tariffs of 25%, which US is threatening to impose on cars, will not be applied and the status quo of the sector will remain unchanged we consider this as a victory," added Mr. Pavel Fara, Deputy Director - International Relations Department of The Confederation of industry of The Czech Republic, to clarify the situation.