Trade dispute: EU and US want to continue trade talks

EU and US continue to negotiate intensively to resolve ir trade dispute. “There is still a lot of work to be done this autumn, our teams will be in close contact in next few weeks”, said EU Trade Commissioner Cecilia Malmström after a meeting with US Trade representative Robert Lighthizer in Brussels. Both sides announced furr meetings.

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Malmström drew a positive conclusion, even though re is still no progress in terms of content. Parley in Brussels was forward, she said. It was first opportunity to discuss points agreed in July by EU Commission leader Jean-Claude Juncker and US president Donald Trump and ir implementation in order to resolve trade dispute.

Also Lighthizers office called conversation constructive. In October, experts from both sides will examine areas in which customs duties and or barriers to trade can be reduced. Juncker travelled to Washington in summer to avert charges on cars from EU after higher US tariffs on steel and aluminum. Both sides agreed to waive such duties for time being. In addition, trade barriers to industrial goods and liquefied petroleum gas should be reduced. The EU also wants to buy more US soya beans. However, details are still open. According to an EU diplomat, aim is initially to create a “framework document” for solution of trade dispute, which is “perhaps by end of year”.

Meanwhile, re is no relaxation in trade dispute between China and USA. The leadership in Beijing threatened to retaliate for every additional US Customs step. The People’s Republic wanted to defend its legitimate interests, said a foreign ministry spokesman. The US president had recently signalled that he was determined to allow virtually all imports from China to be made with customs duties. Trump especially disturbs Chinese surplus in trading with USA. He accuses leadership in Beijing of unfair trading practices. Since July, two largest economic powers in world have covered each or with customs duties. The goods concerned are worth 50 billion dollars each.