The European Union and the United States of America recently concluded their second summit in Washington, DC on October 20. BusinessEurope President Fredrik Persson expressed disappointment on behalf of the European business community regarding the outcomes of the summit.
Persson highlighted the lack of progress on key issues, stating, "I will not hide the disappointment of the European business community at the news that no permanent solutions have been found on our priority issues – critical minerals and steel and aluminium." He emphasized the importance of reaching agreements on critical minerals to enhance competitiveness and promote resilient transatlantic value chains for digital and green transformations.
Regarding steel and aluminium, Persson acknowledged the ongoing negotiations until the end of the year but cautioned that time is running out. He noted the looming uncertainty for businesses on both sides of the Atlantic due to the potential imposition of tariffs and future measures. Persson urged continued commitment from both parties to address these critical issues promptly.
Despite the summit, it is evident that the expectations of the European business community were not fully met, signaling a need for further efforts to secure agreements on essential matters for transatlantic trade relations.