EURATEX Signs Joint Letter For Immediate Suspension Of Retaliatory Tariffs

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EURATEX Signs Joint Letter For Immediate Suspension Of Retaliatory Tariffs

EURATEX, together with seventy-one US and European associations representing a wide range of industries, has sent a letter to US President Joseph R. Biden and European Commission President Ursula von der Leyen urging the immediate suspension of tariffs on sectors unrelated to the ongoing Trans-Atlantic trade disputes. The coalition stated that suspending tariffs will alleviate economic harms and help re-establish a cooperative Trans-Atlantic trading relationship. “The Covid-19 pandemic and the necessary closures of non-essential businesses continue to affect the global economy, including our sectors which support millions of jobs on both sides of the Atlantic,” said the group of US and EU associations. “The ongoing EU-US trade disputes and additional tariffs, which continue to plague Trans-Atlantic trade, have made a bad situation worse. With the damages we have suffered last year and are still suffering, the current situation cannot be allowed to go on any longer.” The groups stated, “We believe the immediate suspension of these tariffs is a necessary and fundamental action, which will provide an economic stimulus at a time when it is needed most.” They concluded, “Our industries support a constructive and flourishing trade and economic relationship between the US and EU. Removal of these tariffs will provide the positive momentum to reset the important bilateral relationship and cooperative efforts to address global economic challenges. In addition, a shared commitment to avoid new additional tariffs will create the necessary certainty and stability needed to grow the Trans-Atlantic economy.”