Brussels: US Commerce Secretary Howard Lutnick urged the European Union on Monday to take a “balanced approach” to digital regulation in order to secure an agreement to lower steel tariffs. Speaking after meeting EU trade ministers in Brussels along with US Trade Representative Jamieson Greer, Lutnick emphasized the importance of collaborative efforts between the US and EU to address trade issues.
According to Bangladesh Sangbad Sangstha, Lutnick stated, “If they can come up with that balanced approach, which I think they can, then we will together with them handle the steel and aluminium issues.” The statement highlights the US’s willingness to cooperate with the EU, provided there is a mutual understanding and agreement on the regulation of digital markets.
The negotiations are part of ongoing efforts to resolve trade tensions between the US and EU, particularly concerning tariffs on steel and aluminium. Both sides are seeking to find common ground that would benefit industries on both sides of the Atlantic, while also addressing regulatory concerns in the rapidly evolving tech sector.