The EU trade ministers will convene for a meeting of the Foreign Affairs Council in Brussels on 24 November to discuss the Union’s trade relations with the United States and China. The ministers will also take stock of the EU’s ongoing bilateral trade negotiations. Minister for Foreign Trade and Development Ville Tavio will represent Finland at the meeting.
The trade ministers will discuss the trade relations between the EU and the United States. Over lunch, the ministers will be joined by US Secretary of Commerce Howard Lutnick and US Trade Representative Jamieson Greer.
Uncertainty around transatlantic trade continues. The joint statement on trade agreed between the EU and the United States in August has mostly been implemented. However, the United States is increasing tariffs targeting specific sectors. US steel and aluminium tariffs are a cause of major concern for the EU and Finland.
“I look forward to further negotiations between the EU and the United States addressing the current concerns. US steel and aluminium tariffs are hitting Finnish mechanical engineering products hard. We use our influence both in the EU and bilaterally to lower the general tariff rate and to strengthen the transatlantic trade relations,” says Minister Ville Tavio.
The meeting will provide an update on the EU’s ongoing bilateral trade negotiations. The EU is negotiating with India, Thailand, the Philippines, Malaysia and the United Arab Emirates. The negotiations with Mercosur, Mexico and Indonesia have been recently concluded. Finland is in favour of swiftly concluding all ongoing trade negotiations and bringing the agreements into force.
“The EU needs more trade agreements facilitating foreign trade for Finnish businesses and improving their competitiveness in the international market. Diverse trade relations are also essential for the security of supply and the functioning of value chains,” Minister Tavio says.
The ministers will also exchange views on EU–China trade relations. In light of increasing geopolitical tensions, Finland attaches particular importance to diversifying economic relations. The EU should assess potential risks in trade with China and reduce critical dependencies.
Commission Vice-President Maroš Šefčovič will present his progress reports on the implementation as well as simplification efforts in the field of trade policy. The meeting will also discuss an initiative supported by Finland and several other EU Member States that aims to impose increased tariffs on additional products imported from Russia, including iron and steel, inorganic chemicals and potassium fertilisers.
Inquiries
- Saila Barke, Diplomatic Adviser to the Minister for Foreign Trade and Development, tel. +358 295 350 226
- Tuomas Tapio, Director General, Department for International Trade, tel. +358 295 350 918
- The email addresses of the Ministry for Foreign Affairs are in the format [email protected]