VDMA continues to urge the EU and the U.S. to reach an agreement that would end their dispute over steel and aluminium tariffs once and for all. The EU-U.S. Summit that took place on October 20th, would have been an ideal opportunity to reach a durable accord, but instead failed to strengthen the critical trade relationship. Despite the rather disappointing result, VDMA welcomes the fact that the EU and the U.S. agreed to continue negotiating until the end of 2023 on this dispute. However, time is running out for the two sides to reach an agreement; without such solution by January 1st 2024, the possibility remains that tariffs will be reimposed from both sides. This is the last thing that the machinery sector needs.
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