VDMA pleads for positive trade relations with the USA under Biden
Under Joe Biden, there is finally an opportunity to achieve a more positive trade relationship between the EU and the US. Now is an opportune moment to enter into talks with the Americans on concluding transatlantic trade agreements, for example on the mutual recognition of conformity assessments.
The USA is the most important export market and investment location for German mechanical and plant engineering. For this reason, trade relations with the USA are of crucial importance to VDMA. That is why we prepared the publication “Biden’s trade and economic policy election promises - A classification from VDMA's perspective” (in German only) in December 2020.
To achieve a positive trade relationship, we call in this publication for:
- A conclusion of the EU-US negotiations on conformity assessment and dismantling of tariffs on industrial goods;
- A dialogue between the EU and the US to find a negotiated solution that ends the Airbus/Boeing dispute and removes tariffs (for example on special excavators, induction furnaces, and certain tools);
- A repeal of existing US punitive tariffs under Section 232 of the Trade Expansion Act of 1962, for example on EU steel and aluminium products;
- Political, legal, and financial support measures to avert extraterritorial sanctions risks;
- A rejection of demands for national supply shares in US public tenders and "Buy American" provisions;
- A reform of the World Trade Organization (WTO);
- A cooperation between the EU and the US on the challenges that China poses to them, such as subsidies.
- Harmonization of the carbon border tax
For more information on these recommendations, please see the attachment below PDF (26 July 2021) (in English only).