The European Union plans to propose to the United States a plan to implement the next phase of the trade agreement that both parties reached this summeraccording to sources familiar with the matter.
This pressure comes just as European Trade Commissioner Maroš Šefčovičis scheduled to meet with his American counterparts later this monthaccording to the sources, who spoke on condition of anonymity.
This measure responds to proposals that Washington sent to Brussels earlier this year demanding a legally binding plan to overhaul EU regulations. which he claimed hurt American companies, according to sources.
The agreement reached in August between the president of the European Commission, Ursula von der Leyen, and US President Donald Trump imposed a 15% tariff on most EU products entering the United States.but also included commitments to continue working on issues such as the management of steel exports and non-tariff barriers.
The 15% cap also applies to cars, and the EU is keen to ensure it also covers other sectors that the US could see affected by sectoral tariffs in the future. As part of the agreement, some EU products benefit from lower tax rates, while the bloc has introduced legislation to eliminate tariffs on American industrial products and some non-sensitive agricultural exports.
A commission spokesman declined to comment on the plan, but confirmed that the EU was collaborating with the US on both political and technical levels.
The so-called implementation action plan, which has not yet been shared with the United States, would focus on five areas, according to sources familiar. These areas include tariffs and market access, where the EU seeks to reduce tax rates for several additional products, including wines and spirits.
The plan also seeks to engage in dialogue to address issues such as standards, digital trade, technical barriers and other trade complaints, according to sources. In addition, would explore cooperation in steel and aluminum, sectors in which the bloc wants to collaborate with the United States to address global overcapacity.
The EU continues to face a 50% tariff on steel and aluminum exports, as well as many derived products. The Commission, in charge of trade in the bloc, advocates a quota system that allows a certain amount of metal exports to benefit from reduced tariffs.
According to sources, the proposed action plan would also seek to establish an economic security task force to focus on issues such as investment control, export controls, procurement and supply of critical raw materials.
It would also cover and oversee the strategic purchases and investments that the EU committed to make in liquefied natural gas and chips as part of the agreement reached with Trump, according to sources.
