A letter has been written and signed by 72 US and EU trade associations including The American Apparel and Footwear Association (AAFA), The National Retail Federation (NRF), the European Apparel and Textile Confederation (Euratex) among other.
The letter is addressed to the US President Joe Biden and the President of the EU Commission, Ursula von der Leyen. Following are some excerpts from the letter.
“The ongoing EU-US trade disputes and additional tariffs which continue to plague Trans-Atlantic trade have made a bad situation worse. With the damages, we have suffered last year and are still suffering the current situation can not be allowed to go on any longer. We believe the 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.
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The duties imposed in 2018 are still in place today but the whole trade balance is destroyed due to the Covid-19 therefore, these tariff rules made in 2018 should be revised.
“Suspending these tariffs is urgently needed to address the economic harms our industries are currently facing and will also be a positive step to help re-establish a cooperative Trans-Atlantic trading relationship.
“, the letter states
“Removal of these tariffs will provide the positive momentum to reset the 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.”, the letter concludes.
