Lutnick says EU must change digital regulations to reach US steel tariff deal: Bloomberg
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The news: US Commerce Secretary Howard Lutnick said the European Union must change its digital rules in order to reach a deal to lower steel and aluminium tariffs with the US.
The context: In a Bloomberg Television interview on Monday, Lutnick said: “We are talking to them about” rolling back EU tech rules. “In exchange for that, we will come up with a cool steel and aluminium deal.”
US representatives were in Brussels on Monday for their first officials visit since the deal with the bloc was struck in July, which set a 15% tariff on many EU goods. The EU had pledged to erase tariffs on US industrial products as well as some agriculture and food items.
Lutnick told Bloomberg that any deal on steel or aluminium is contingent on the EU rolling back some of its regulations on major American tech companies.
“The idea is if they take the foot off this regulatory framework and make it more inviting for our companies, they can get the benefit of hundreds of billions, possibly one trillion of investment,” Lutnick said.
The source: Bloomberg
