We acknowledge the complexities of international trade and the need to protect European interests. However, we urge the European Commission to consider the profound implications of retaliatory tariffs on the value of the branded consumer goods industry, both in the European Union and the United States.
The EU and the US have had longstanding mutually beneficial trade relations, with both playing leadership roles in promoting democracy, free market economies, and most importantly, the highest standards for both EU and US consumers. The branded consumer goods industry has played a critical role in delivering brands that consumers love on both sides of the Atlantic.
Many of the sectors targeted in the current tariffs situation are representative of brands cherished by consumers everywhere, as well as representing the highest trade surplus with the United States. The presence of cosmetics, wine and spirts in the European executive’s new consultation list will only serve to harm these consumers.
Should the 2018 tariff list and the new tariff list currently open for consultation be adopted as such, the anticipated US retaliatory tariffs, threatening to take effect following the EU countermeasures, would result in a severe economic blow to both EU and US brands, affecting employment, exports, and global competitiveness.
We urge the European Commission to prioritize diplomatic engagement with the United States. Ensuring a balanced approach in the EU’s response is essential to protect our brands and safeguard competitiveness.
We strongly urge the European Commission to find mutually beneficial solutions that prevent further harm to our brands. Additionally, we urge the Commission to consider targeted measures that are proportionate and strategically designed to minimize collateral damage.
As representatives of the leading global brands, we are ready to collaborate with the Commission to help secure a mutually beneficial outcome that avoids lasting harm to the branded consumer goods industry. We appreciate your leadership in navigating this complex challenge and urge immediate action to preserve the strategic importance of transatlantic trade.
We look forward to your support and remain available for further discussions.
