EU-US Summit falls short of business expectations

Brussels/Washington, 21 October 2023 -  On 20 October, the European Union and the United States of America held their second summit in Washington, DC.

BusinessEurope President Fredrik Persson said: "I will not hide the disappointment of the European business community at the news that no permanent solutions have been found on our priority issues – critical minerals and steel and aluminium.

We are still waiting for a long-promised agreement on critical minerals. The deal is a way to secure our joint competitiveness and to build more resilient and integrated transatlantic value chains in the areas that are crucial for our digital and green transformations.

On steel and aluminium, we welcome the fact that the two sides will continue negotiating until the end of the year. However, time is running out and businesses on both shores of the Atlantic face uncertainty with a prospect of tariffs and future rebalancing measures. We urge the two sides not to lose the sense of urgency and stay committed to finding permanent solutions for both of these important issues."