It is reported thatEU leaders and US President Joe Biden will pledge to end the trade war at the EU-US summit on June 15 and to eliminate tariffs related to the steel and aluminum trade conflict by the end of the year.
According to the draft, Europe and the United States will promise to find a solution to the dispute in the aviation industry by July 11. The contents of the draft may also be amended. The two sides had previously agreed to suspend tariffs on the aviation industry until July to facilitate a solution.
In addition, the draft shows that the two sides will also try to eliminate tariffs imposed in the dispute over steel and aluminum trade by December 1.
The United States and the European Union will also announce a partnership aimed at strengthening the supply of semiconductors in the two regions. This will be part of the work of the Trade and Technology Committee, the EU-US platform for cooperation on digital issues, and the two sides will formally reach an agreement at the summit.
"We promise that the European Union and the United States will establish a partnership in the global semiconductor supply chain rebalancing process to enhance the respective supply security of the European Union and the United States," the draft also mentions that it will seek to support the design and production of the strongest and most energy-efficient semiconductors.
According to the draft, the Trade and Technical Committee aims to "avoid the creation of new technical barriers to trade", as well as artificial intelligence, export controls and investment screening.