EU-US tariff reduction deal: Renew Europe wants to move forward on cooperation with the United States and create a positive trading relationship with the new Biden administration.

Yesterday, the INTA committee approved the EU-US agreement to eliminate customs duties on certain European and American products. Renew Europe welcomes this agreement. It is the first tariff reduction agreement between the EU and the US in more than twenty years. This agreement also affirms the EU's strong adherence to WTO rules and rules-based trade.

Renew Europe is convinced that the EU and the US should solve the problems from the past and explore new areas for cooperation. The US remains the most important trading partner of the EU, and therefore Renew Europe believes in the importance of a strong and positive trading relationship. The EU-US tariff reduction deal should serve as a stepping stone thereto.

It is also vital that the US re-joins the Paris Agreement as President-elect Joe Biden has committed to do.

It is for the next President of the United States to join the EU and its determination to improve our trading relationship, which will benefit citizens and businesses on both sides of the Atlantic Ocean.

Liesje Schreinemacher, Renew Europe shadow rapporteur on this file in INTA committee said:

"It is high time we start focusing on strengthening the Transatlantic relation. Recent developments in trade relations with the US have only resulted in the weakening of our ties. It is important to remind ourselves that the EU and US are indispensable trading partners and we need each other to tackle global challenges. This mini-deal finally presents a positive step towards greater cooperation and it is our hope that the new Biden administration will join us in our ambitions to explore ways to rebuild strong EU-US ties."