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EU has high hopes for Biden on trade

Summary

With a Biden win, Europe hopes for a ‘renewed transatlantic relationship’: Senior policy fellow Description video: Europe wants the United States to remain an ally and continue close cooperation in NATO and trade relations, says Jana Puglierin of the European […]

With a Biden win, Europe hopes for a ‘renewed transatlantic relationship’: Senior policy fellow

Description video:
Europe wants the United States to remain an ally and continue close cooperation in NATO and trade relations, says Jana Puglierin of the European Council on Foreign Relations.

EU has high hopes for Biden on trade

The European Union has “high hopes” for the new US president and hopes the United States will resume multilateral trade talks, EU officials said Monday..

EU trade ministers spoke by videoconference on Monday, two days after the Democrat Joe Biden announced victory in the presidential election. The president Donald Trump, with whom Europe had strained relations, I do not agree to give up this post and poses legal challenges to the November 3 election results.

«There are high expectations and hope that the US presidential election will lead to a return to multilateral participation in international trade, which can overcome past conflicts.», – said the German economy minister Peter Altmaier at a press conference before the ministerial meeting.

EU Head of Trade Valdis Dombrovskis reported that the European Commission, which coordinates the trade policies of the 27 EU member states, has established informal contacts with Biden’s team.

«Thus, the first contacts were established, including for the discussion of trade issues.», – he said.

EU wants US to abolish steel and aluminum tariffs and resolve civil aircraft subsidy dispute for Boeing and Airbus.

The European Union is ready to impose additional duties on US imports for $ 4 billion after the decision of the World Trade Organization in the Boeing case. The United States already has $ 7.5 billion in tariffs on EU products approved in a parallel WTO Airbus case.

EU has high hopes for Biden on trade

Dombrovskis, vice president of the European Commission, echoed the EU’s proposal that the bloc would suspend its economic measures if the US did the same, but said Washington has not yet agreed to it..

«We are ready to suspend or cancel our fares any time the United States suspends or cancels its fares. We are ready to do it at any time», – he said.