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ACC and CEFIC Welcome U.S. and EU Commitment to Resolve WTO Trade Dispute, Encourage Further Progress on Ending Section 232 Tariffs

Ryan Baldwin

WASHINGTON (June 21, 2021) – American Chemistry Council (ACC) President and CEO, Chris Jahn, and CEFIC Director General, Marco Mensink, issued the following statement in response to the U.S. and EU agreement to end their 17-year dispute over aircraft subsidies and suspend punitive tariffs for five years: 

“The U.S. and European chemicals industry are encouraged to see a cooperative framework now in place to resolve the long-standing dispute over aircraft subsidies. A five-year suspension of WTO-authorized countermeasures – if it holds – will ease the tariff burden on transatlantic chemical manufacturers and possibly help avoid costly tariffs in the future. With the announcement as well of a working group on Section 232 tariffs, the tide may finally begin to turn in favor of rescinding steel and aluminum and retaliatory tariffs, avoiding new ones, and fully eliminating transatlantic chemical tariffs in the future. A tariff-free trading environment between the United States and European Union is the best way to unlock the full potential of chemicals manufacturing growth on both sides of the Atlantic.

“Demonstrated leadership on suspending tariffs could also foster deeper discussions on how to further strengthen the U.S.-EU relationship and cooperation within the World Trade Organization. With the potential suspension of other tariffs, modernizing the WTO and the rules-based international trading system would be the sensible next step toward protecting, promoting, and enforcing free and fair trade around the globe.”

American Chemistry Council

The American Chemistry Council (ACC) represents the leading companies engaged in the business of chemistry. ACC members apply the science of chemistry to make innovative products and services that make people's lives better, healthier and safer. ACC is committed to improved environmental, health and safety performance through Responsible Care®; common sense advocacy designed to address major public policy issues; and health and environmental research and product testing. The business of chemistry is a $486 billion enterprise and a key element of the nation's economy. It is among the largest exporters in the nation, accounting for ten percent of all U.S. goods exports. Chemistry companies are among the largest investors in research and development. Safety and security have always been primary concerns of ACC members, and they have intensified their efforts, working closely with government agencies to improve security and to defend against any threat to the nation’s critical infrastructure.

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