The EU trade commissioner has said he still hopes to secure a deal with Biden’s management to resolve a 16-year dispute over Airbus and Boeing, which could be the catalyst for a trade agreement between the Atlantic.
Valdis Dombrovskis told the Financial Times that the EU and the US are working “strongly” to address their trade disputes, as they praised the “dramatic change” since Joe Biden’s management took office in January.
Negotiations on airline support are crucial, given the desire that Brussels and Washington have shared in resolving a dispute that over the past two years has led to each side paying for another billions of dollars.
These activities – on a variety of issues from French wine to US molasses – are suspended after the EU and US agreed in March raising them for four months, and creating a political platform for negotiations.
“The work is ongoing and I think there are reasons to expect that we will be able to solve this problem, and that we should not go back to taxes,” Dombrovskis said.
Dombrovskis says the two sides are working on a new law, known as education, in the future of airline planning. Asked if the talks could go well in the four-month window announced on March 5, the Commissioner said: “We are working on these lists.”
This controversy is one of the longest running in the history of the World Trade Organization. Both groups have been found over the years to fail to properly implement the WTO’s decisions on illegal activities.
The effect has also been felt in recent years, with the US hitting European goods at $ 7.5bn in surplus prices in October 2019, while the EU provided additional $ 4bn in exports to the US the following year. Both parties agreed with the WTO decisions in favor of each side.
“I hope we can address this and put it back on track,” Dombrovskis said.
Brussels has called on the U.S. for a major six-month tax suspension – an idea that could affect connected work and Trump’s time tax increases on steel and waste exported. The advice was not taken by Washington.
Dombrovskis said the EU wants a moratorium on steel and aluminum prices to all “address the root causes of the problem, which are the most common in the world of steel”, mainly because of China.
“Right now we are looking forward to action. . . on this request, “said Dombrovskis.” In our opinion, this is the best solution. “
Trade Secrets is one that FT should briefly read daily about global trade transformation and global interdependence.
Sign in here to understand countries, companies and technologies that are creating new economies around the world.
He noted that the agreement with new US officials, including business representative Katherine Tai, was growing in terms of WTO reforms and how to deal with “the social and economic consequences of China.”
Brussels has also suggested to the US to establish a Business and Technology Council to set standards in such advanced areas as artificial intelligence.
“I would say the first practice. . . he speaks clearly, “said Dombrovskis.” We also expect him to hear more from the US. [We’re] ready to discuss and find a common solution.