EU and US to restart trade talks as sticking points on July tariff deal remain

"The EU and US are set to restart trade negotiations next week after a two-month pause to try to settle unresolved sticking points in their controversial tariff deal struck in July. The US commerce secretary, Howard Lutnick, and trade representative Jamieson Greer will hold high-level meetings in Brussels on Monday with ministers, EU commissioners and industry bosses. The face-to-face meetings are the first talks since the six-week US government shutdown that began at the start of October."

"Brussels struck a deal with Donald Trump at his golf course in Scotland in July to avert his threat of 50% tariffs, instead agreeing a baseline 15% levy on most EU imports into the US. Now Washington officials have made it clear they are frustrated with the EU's slow pace of implementation on that deal, which is not legally binding and needs to be passed by parliament, a process that could take until February."

"Among the significant outstanding problems expected to be discussed at Monday's talks are the continuing 50% tariffs on steel and aluminium, separate tariffs on products with steel elements, and food and drink levies. Several member states want to see the removal of the 15% tax on wine and spirits including France, which has been hit by duties on Cognac, Ireland on whiskey and all the wine-producing countries."

EU and US officials will resume high-level trade negotiations in Brussels following a two-month pause to address unresolved elements of a July tariff agreement. US commerce secretary Howard Lutnick and trade representative Jamieson Greer will meet ministers, EU commissioners and industry leaders, with talks being the first since the recent US government shutdown. The July deal set a baseline 15% levy on most EU imports to avert a threatened 50% tariff. Washington is frustrated by the EU's slow, non-legally-binding implementation, which may require parliamentary approval and extend until February. Key outstanding issues include 50% steel and aluminium tariffs, tariffs on products containing steel, food and drink levies, and demand from member states to remove the 15% tax on wine and spirits. Talks will also cover chip supply concerns with relevant commissioners and industry representatives.

Read at www.theguardian.com