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US-EU

The European Foreign Affairs Council meets in its trade format today to discuss a number of issues, with the state of play in EU-US trade a major talking point.

  • US Trade Representative Katherine Tai will join the ongoing meeting at some point for informal talks. Comes as US-EU trade relations are at their best in a number of years following an agreement reached in late October on steel and aluminium tariffs that had been in place since the Trump administration.
  • The deal sees a certain amount of steel and aluminium allowed to be traded between the two under lower tariffs, while the EU will also suspend the planned application of retaliatory tariffs due on 1 Dec.
  • Both sides seem keen to iron out long-standing issues over metals and aircraft tariffs in an effort to focus on more pressing issues with Chinese trade.
  • Post-council presser confirmed for this afternoon, but timing not yet stated.
MNI London Bureau | +44 203-865-0981 | tom.lake@marketnews.com

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