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US-EU trade talks continue as truce holds

AFP  |  Washington 

EU was due to meet with US officials again Thursday as they worked to resolve trade frictions, which resulted in the exchange of billions in tariffs last year.

After the first day of talks Wednesday, Malmstroem told reporters the was steadfast in its refusal to include agriculture in negotiations even though had increased purchases of US commodities.

"As demonstrated by recent developments and figures concerning Liquefied Natural Gas and soya beans, we are delivering," a said Thursday in an email.

Malmstroem said the is developing negotiating mandates for a possible deal with the to eliminate tariffs on industrial goods.

European leaders last year were outraged after US imposed tariffs on and aluminum imports. responded by slapping counter-tariffs on more than USD 3 billion in US exports like bourbon, blue jeans and motorcycles.

But Trump and in July called a truce, agreeing that so long as talks continued neither side would impose additional tariffs.

Malmstroem said she expects the US to abide by an agreement to exempt the EU from any new tariffs on autos -- a measure Trump is considering.

US, EU and Japanese officials also met Wednesday to discuss proposed reforms to Trade Organization rules that would address unfair trade practices -- a move widely seen as a common front against China, which accuses of massive state-intervention in markets and theft of intellectual property.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, January 10 2019. 22:10 IST