The American Chamber of Commerce to the EU (AmCham EU) regrets the decision of the US not to permanently exempt the EU from tariffs and limits on imports of steel and aluminum.
It is a destabilizing move which is creating uncertainty for companies operating globally. It could have ramifications for transatlantic relations and for jobs, growth and security on both sides of the Atlantic.
The new 1 June deadline should be seen as an opportunity for the EU and the US to address some of the legitimate concerns raised, such as global overcapacity and unfair trading practices. The EU is a historic and crucial ally of the US and its most important economic partner. We believe that, at the end of this process, the exemption should be made permanent as the EU meets all the criteria set out for exemption.
As companies operating across the world and dependent on global supply chains, we remain concerned about the negative impact any new trade barriers – and potential tit-for-tat measures – could have on our operations, the global economy and security. We encourage both sides to seek a resolution to this issue which does not result in more barriers to trade and investment.