Customs dispute between the EU and the USA: "Getting lost in skirmishes does not help"

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The EU counter-tariffs on US tariff increases are understandable, but do not help. An agreement is needed to abolish all industrial tariffs.

The European Union is reacting with counter tariffs to the US tariff increases on nails, staples, bumpers and wires from February 2020. Ulrich Ackermann, Head of the Foreign Trade Department at the VDMA, explains:

"As understandable as the reaction of the European Union in the form of tariff increases for US products such as playing cards, lighters and plastic covers for furniture to the US tariff increases is: Getting lost in skirmishes will not get us anywhere in bilateral trade. What we need are serious talks between the USA and the EU. For so far, despite the 'ceasefire agreement' of July 2018, no negotiations on the reduction of industrial tariffs have been initiated. The VDMA is working to ensure that the planned agreements on the abolition of all industrial tariffs and the mutual recognition of conformity assessments between the EU and the USA are finally tackled.