Finance
EU discussing steel, chip, plane cooperation with US, trade chief says
Published by Global Banking & Finance Review®
Posted on May 28, 2025
2 min readLast updated: January 23, 2026
Global Banking & Finance Review®
Company
Published by Global Banking & Finance Review®
Posted on May 28, 2025
2 min readLast updated: January 23, 2026
The EU and US are in talks to enhance trade cooperation in steel, semiconductors, and aviation, aiming to limit tariffs and improve market access.
By Federico Maccioni
DUBAI (Reuters) -The European Commission is discussing with the United States possible cooperation in sectors such as aerospace, steel, semiconductors and critical minerals, European Trade Commissioner Maros Sefcovic said on Wednesday.
Sefcovic, in Dubai to launch free trade agreement negotiations with the United Arab Emirates, said he was talking to U.S. counterparts every other day in search of a deal to limit tariffs, with another call due on Thursday.
"What we are looking at first and foremost are all the tariff lines, what we can do there, how can we look from this new perspective for the market access?" he told a press conference.
Sefcovic said he was discussing with U.S. Secretary Howard Lutnick areas of possible transatlantic cooperation that would benefit both sides, naming aviation, semiconductors, steel and dependencies, notably for critical minerals.
"I'm absolutely convinced that the two largest trading partners on this planet ... just simply have to look for the best possible frame for trade, for investment," he said.
"And this is what we are currently working on. The intensity is great and I hope that this will bring us the results for the fair and balanced deal in the end," he said.
The European Commission, which oversees trade policy for the 27-nation EU, said it saw new impetus in trade talks with the United States this week after President Donald Trump dropped his threat to impose 50% tariffs on EU imports.
That followed Trump's call with Commission chief Ursula von der Leyen in which they agreed to fast track talks.
The EU wants to see an end to 25% tariffs on steel and cars and for Trump to drop his so-called "reciprocal" tariff, which was provisionally set at 20% for the EU but is being held at 10% during a 90-day pause until July.
Washington, however, is intent on reducing its goods trade deficit with the EU, which was almost 200 billion euros ($226 billion) last year, though it does have a sizeable, albeit smaller, trade surplus in services.
($1 = 0.8843 euros)
(Reporting by Federico Maccioni; Writing by Philip Blenkinsop; Editing by Mark Porter)
The European Commission is discussing cooperation in sectors such as aerospace, steel, semiconductors, and critical minerals.
The EU is working to limit tariffs and is examining all tariff lines to improve market access, with discussions occurring frequently with US counterparts.
President Trump agreed to fast track trade talks with the EU after a call with Commission chief Ursula von der Leyen, which has led to renewed impetus in negotiations.
The EU aims to eliminate 25% tariffs on steel and cars and seeks to address the reciprocal tariff set at 20% for the EU, which is currently held at 10%.
The trade deficit between the US and the EU was almost 200 billion euros, equivalent to approximately $226 billion last year.
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