The implementation of the US European trade agreement is hindered by the linkage between tariff reduction and digital regulation

Brussels, November 24th (Xinhua) - The trade ministers of EU member states held a meeting in Brussels, the capital of Belgium, on November 24th, urging the United States to implement the US-EU trade agreement as one of the important contents. The EU hopes that the United States will lower the 50% tariff on its steel and aluminum products, while the US demands that the EU relax relevant regulations in the digital field. The implementation of the US European trade agreement still faces obstacles.

US Commerce Secretary Lutnik and US Trade Representative Greer met with officials including trade ministers from 27 EU member states on the same day. This is the first high-level meeting between EU and US trade officials after the tariff agreement was reached.

Lutnik publicly linked digital regulation to reducing steel and aluminum tariffs after talks with EU trade officials. He told reporters that if the EU wants to exchange for the US lowering tariffs on its steel and aluminum products, it must first comprehensively adjust its technology industry regulatory rules.

The European Commission's Commissioner for Trade and Economic Security, Shevchenko, stated that he does not expect an immediate breakthrough in negotiations with the United States, but solutions to the steel and aluminum issues are still under discussion.

At present, the EU has made multiple concessions, including purchasing US energy and making other significant investments. The United States' share of liquefied natural gas imports from the European Union has increased from 45% to 60%. Since January this year, the EU's investment in the United States has increased by over 150 billion euros.