BUSINESSEUROPE REACTION TO THE PUBLICATION OF THE EU-U.S. JOINT STATEMENT

BusinessEurope Director General Markus J. Beyrer said: "The publication of the EU-U.S. Joint Statement brings much needed clarity for businesses, but this should not be the end result.

The EU and the U.S. must remain engaged and committed to improving the conditions for companies to trade and invest across the Atlantic. In particular, we hope the two can further expand the list of tariff-exempt products.

We appreciate the efforts from the European Commission to avoid tariff escalation, but 15% duties will have a negative impact on European competitiveness. Therefore, the EU must redouble efforts to improve its competitiveness, reducing regulatory burden and the cost of energy and moving forward with its trade diversification agenda.”