WASHIGTON, D.C. – National Foreign Trade Council (NFTC) Vice President for Global Trade Policy Tiffany Smith released the following statement in response to the Trump Administration’s announcement of a trade deal with the European Union.
“Any deal that begins to stabilize the tariff situation and avoids retaliation between the United States and Europe is welcome progress. However, this initial framework leaves in place a number of troubling EU policies, including an extensive discriminatory digital agenda, extraterritorial supply chain regulations, and unfair pharmaceutical reimbursement policies.
“Imposing a high 15% tariff rate on one of our largest trading partners, particularly on strategic sectors like aircraft and pharmaceuticals where a tariff-free environment has enabled industries to thrive on both sides of the Atlantic, may provide short term gains but will leave us isolated from a major ally and erode trust long term.
“We hope the Administration will continue to press the EU to dismantle its remaining discriminatory and unfair barriers and that further tariff reductions are applied if meaningful commitments are made on these issues.”
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About the NFTC
The National Foreign Trade Council (NFTC) is the premier business association advancing trade, tax, national security and supply chain policies that support access to the global marketplace. Founded in 1914, NFTC promotes an open, rules-based global economy on behalf of a diverse membership of U.S.-based businesses, who account for over $6 trillion in revenue and employ nearly 6 million people in the United States.
