In the course of his speech, Executive Vice-President Dombrovskis ensured that much importance is attached to the Transatlantic relationship in Europe, and underlined that both sides want the next Trade and Technology Council to deliver on common pledges to build a “Transatlantic Initiative on Sustainable Trade”. Besides, the parties agree to step up TTC work on removing barriers to trade, as well as to proceed with the negotiations on the Global Sustainable Arrangement on Steel and Aluminium, with a view to shaping a joint vision for decarbonizing these two sectors.
However, although he noted that “there are tangible, positive outcomes within reach in all these areas”, he mentioned the ongoing challenges as regards the U.S. Inflation Reduction Act, with regard to which the dedicated task force continues its work. “The EU remains committed to finding further workable solutions in this forum”, he ensured, adding that “we need to make further progress in the negotiations, or we will face even stronger calls for the EU to respond”. To conclude, he reiterated that the EU and U.S. remain essential partners.
Please, read the full speech here.