EURATEX, and 71 US and European associations representing a wide range of industries have sent a letter to President Biden and European Commission President Ursula von der Leyen urging for immediate suspension of tariffs on sectors unrelated to the ongoing Trans-Atlantic Trade disputes.

The coalition stated suspending tariffs will alleviate economic harms and help re-establish a cooperative Trans-Atlantic trading relationship. The pandemic and necessary closures of non-essential businesses continue to affect global economy, including sectors which support millions of jobs on both sides of the Atlantic. The ongoing EU-U1S trade disputes and additional tariffs, which continue to plague Trans-Atlantic trade, have made a bad situation worse.

The groups feel immediate suspension of these tariffs is a necessary and fundamental action, which will provide an economic stimulus at a time when it is needed most.

They concluded that the industries support a constructive and flourishing trade and economic relationship between the US and EU. Tariff removal will provide positive momentum to reset important bilateral relationship and cooperative efforts to address global economic challenges. In addition, a shared commitment to avoid new additional tariffs will create the necessary certainty and stability needed to grow the Trans-Atlantic economy.