EU, fully committed to agreement with the US - Commissioner Sefcovic: Steel, chips and aircraft are in focus
The European Commission is discussing with the United States possible cooperation in sectors such as aerospace, steel, semiconductors and critical minerals, European Trade Commissioner Maros Sefcovic announced.
Sefcovic, who is currently in Dubai to launch negotiations on a free trade agreement with the United Arab Emirates, said he was talking to his American counterparts in search of an agreement to limit tariffs.
"What we are looking at first and foremost are all the tariff lines, what can we do with them and how can we look from this new perspective at market access?" he said at a press conference.
He also said he was discussing with US Secretary of State Howard Lutnick areas of potential transatlantic cooperation that would be beneficial to both sides, citing aviation, semiconductors, steel and dependencies, particularly for critical minerals.
" I am absolutely convinced that the two largest trading partners on this planet... simply need to look for the best possible solution for trade and for investment," Sefcovic said. "And that is what we are currently working on. The intensity is great and I hope that this will bring us the results of a fair and balanced agreement in the end ," he said.
The European Commission, which oversees trade policy for the 27-nation EU, said it saw new momentum in trade talks with the United States this week after President Donald Trump backed down from his threat to impose 50% tariffs on EU imports. This followed Trump's phone call with Commission chief Ursula von der Leyen in which they agreed to fast-track talks.
The EU wants to see an end to 25% tariffs on steel and cars and for Trump to lift the so-called "reciprocal" tariff, which was temporarily set at 20% for the EU but is being held at 10% during a 90-day pause until July.
However, Washington aims to reduce its goods trade deficit with the EU, which was almost 200 billion euros last year, although it has a significant, albeit smaller, trade surplus in services.
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