Get 40% Off
These stocks are up over 10% post earnings. Did you spot the buying opportunity? Our AI did.Read how

EU seeks reset in trade talks with U.S. - trade chief Hogan

Published 12/30/2019, 05:37 AM
© Reuters. FILE PHOTO: European Trade Commissioner-designate Phil Hogan attends his hearing before the European Parliament in Brussels

DUBLIN (Reuters) - The European Union's new trade commissioner, Irishman Phil Hogan, was quoted on Monday as saying he would seek a reset of EU/US trade relations on a number of contentious issues when he meets his U.S. counterpart for the first time next month.

The Trump administration imposed tariffs on European steel and aluminum in mid-2018. It has done the same to $7.5 billion worth of EU products over a dispute about subsidies for European planemaker Airbus (PA:AIR), and is threatening action against France over a digital services tax.

Hogan, who was promoted from the role of EU farm chief this month, spoke to U.S. trade representative Robert Lighthizer just before Christmas, he told the Irish Times newspaper.

"We agreed to meet in Washington in mid-January to discuss the long list of issues causing strain in the relationship between the EU and the US. There is no point in getting into the details of resolving trade irritants unless we agree a line on a common trade agenda," he was quoted as saying.

"I will be seeking a reset of the EU/US trade relationship on issues like tariffs on steel and aluminum and the threat of US tariffs in response to a digital tax in Europe."

The two sides are in theory trying to forge a deal to remove overall import duties, but are stuck over farm products, which Washington says must be included and Brussels says cannot feature.

They are also at odds over Washington's paralysis of the World Trade Organization's judicial arm, a vital part of the global trading system.

3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads .

The European Commission has said the bloc will act as one over the planned U.S. tariffs on French goods, and that a threat this month to increase EU-wide tariffs in relation to the Airbus dispute would make a settlement more difficult to achieve.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.