The EU is preparing a new plan to implement the trade agreement with the US

Among other things, the European Union seeks cooperation in the field of steel and aluminum

The European Union intends to propose a plan to the US that provides for the implementation of the next stage of the trade agreement concluded by the parties in the summer. This was reported by Bloomberg, citing sources.

This move is a response to proposals that Washington previously sent to Brussels, demanding a legally binding plan to revise EU rules that, according to the US, harm American businesses, insiders said.

The agreement, signed by the parties in July this year, provides for a 15% tariff on most EU goods imported into the United States and included a commitment to continue working on other issues, such as steel exports and combating non-tariff barriers.

The so-called implementation action plan, which has not yet been presented by the US, will focus on five areas, according to sources. These include tariffs and market access, where the EU is seeking to reduce rates for several additional goods. It also aims to engage in dialogue on issues such as standards, digital trade, technical barriers, and other trade complaints.

In addition, the plan will explore opportunities for cooperation in the steel and aluminum sectors, with the bloc seeking to work with the United States to address global overcapacity.

The European Union still faces a 50% tariff on exports of steel and aluminum, as well as on many derivative goods, and the EC is seeking to agree on a quota system for metals.

Sources said that an economic security working group is also planned, which will focus on investment screening, export controls, procurement, and the supply of critical raw materials. The plan will also cover strategic purchases and investments that the EU has committed to under an agreement with Donald Trump.

A representative of the European Commission declined to comment on the plan to the agency, but confirmed that the EU is negotiating with the US at both the political and technical levels.

European Commissioner for Trade Maros Sefcovic is scheduled to meet with his American counterparts in November.

The European Commission is pressuring the US to lift tariffs on steel and aluminum products – Brussels is seeking to move forward on those parts of the agreement that have not yet entered into force. This was stated by Maros Sefcovic in October. The EC believes that it has fulfilled its part of the agreement by proposing to increase European steel tariffs to 50%, reduce quotas by almost half, and more closely monitor the origin of imported steel products.