Dublin (Brussels Morning Newspaper) – U.S. Trade Representative Jamieson Greer emphasized in a meeting with Irish Trade Minister Simon Harris last month that the U.S. is open to “creative solutions” on pharmaceutical trade with the European Union, Harris said on Wednesday.
“He made it clear that he was open to creative solutions when it comes to pharma and I think that’s an important recognition that actually pharma between the U.S. and the EU, the U.S. and Ireland, is much more interdependent than perhaps people were led to believe in certain quarters at the start of this process,”
Harris told journalists.
What is the EU seeking in tariff relief?
EU diplomats told Reuters that the European Union is seeking immediate tariff relief in key sectors as a condition of any trade deal with the U.S., which must be reached by the July 9 deadline. At the same time, they acknowledge that the U.S. baseline tariff of 10% is unlikely to change.
Meanwhile, the EU is pushing for a deal that would cover commercial aircraft and parts, as well as pharmaceuticals and semiconductors – all areas the U.S. is looking into but hasn’t yet hit with additional tariffs. Back in June, Trump had said the pharmaceutical duties were set to be announced “very soon”.
How likely is a deal before the deadline?
“I think it’s important to be truthful with people, the EU is negotiating with an administration that believes in tariffs and clearly I think 10% seems to be the baseline in any agreement they (the U.S.) have reached so far,”
Harris stated.
“But we will be seeking at an EU level to maximise the number of sectors where there is zero-for-zero (tariffs).”
According to Harris, pharma, aviation, and agriculture are key areas where Dublin would like to see trade between the EU and the U.S. move freely.
He noted that the talks between the EU and U.S. had a welcome level of intensity. While a brief extension to the July 9 deadline is an option, it would be better to at least finalize a framework agreement and outline a roadmap for future discussions on key sectors.
