US Trade Czar Tai Says Optimistic About Prospects For ‘Intense’ Trade Negotiations With EU
U.S. Trade Representative Katherine Tai said on Thursday she would accompany President Joe Biden to Brussels next week for “intense negotiations” to try to resolve trade disputes over aircraft subsidies and steel and aluminum.
Tai told an event organized by the AFL-CIO union federation that she will fight for the rights and interests of American workers in these industries, while working to set new standards to fight against the policies. China’s industrial plants.
“We will participate in intense negotiations to resolve the 16-year-old Boeing / Airbus disputes and find a way forward on products like steel and aluminum,” Tai said, reiterating his optimistic assessment of the talks so far. ‘now.
“From my conversations so far, I am optimistic that we will be successful,” Tai said at the event.
The EU wants the Biden administration to lift Section 232 national security tariffs by 25% on imported steel and 10% on imported aluminum. “Punitive tariffs” linked to the dispute.
Tai said such action must be tied to a solution that addresses chronic excess production capacity in these industries, largely centered in China.
She told the AFL-CIO’s “virtual town hall” of union members that she would use her meeting with her European counterparts to discuss possibilities to deal with such unfair trade practices and excess capacity, but reiterated its support for the protection of the national metal industry.
“The steel industry is essential to our economy and our national security,” Tai said in response to a question from a member of the United Steelworkers. “President Biden is committed to protecting our steel industry and workers like you from unfair trade practices.”
A draft statement seen by Reuters shows that US and EU officials will pledge to end the dispute over subsidies to aircraft manufacturers Airbus SE (AIR.PA) and Boeing Co (BA.N) by July 11, while setting a deadline of December 1 to end the punitive tariffs linked to the steel and aluminum dispute
US, UK and EU officials have expressed optimism that a settlement can be reached before July 11, when the currently suspended tariffs will come back into effect on all sides.
A source close to the negotiations said talks were progressing well, but a deal was unlikely to be reached before next week’s US-EU summit.
Discussions over steel and aluminum tariffs are still in their infancy and will take longer to resolve, the source said.
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