The United States and the European Union are meeting in Pittsburgh today to strengthen trade ties and negotiate new rules and standards. Following France’s recommendation to postpone the summit, the European Commission was previously divided over its participation in the talks.
At the trade summit, the EU and the United States will discuss technical standards and other issues. ‘For example, look at production standards. We want imported products to meet our standards, and the United States wants the same. It’s mostly about details and they have to admit it, “said PNR’s resident economist Hon de Jong.
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But there are also many difficult issues in the background. “Like the recently signed defense agreement between the United States, the United Kingdom and Australia, the AUKUS Security Agreement and import tariffs play a role,” de Jong said. There were mixed reactions, but he began to take action against allies, imposing a 25 per cent import duty on European steel, saying “Europe has responded with tariffs on Harley-Davidson and bourbon”.
With the arrival of the new president, De Zhang hoped that this would change very quickly. “Americans now have on the table the plan that lower prices will apply to European steel, but only to lower quantities of steel,” De Jong said. Basically, for him, not much has changed.
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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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