U.S. Commerce Secretary Howard Lutnick stated that the European Union must revise its digital regulations to reach an agreement on lowering steel and aluminum tariffs. “We are discussing with them the removal of the EU’s tech sector regulations,” Lutnick said. “In return, we would offer a very good steel and aluminum deal.”
Lutnick and U.S. Trade Representative Jamieson Greer made their first official visit to Brussels since the U.S. and EU reached a trade agreement in July. Lutnick made it clear that any deal on steel or aluminum hinges on the EU scrapping certain regulations targeting major U.S. tech companies. On Monday, they met with EU Technology Commissioner Henna Virkkunen to discuss the issue, followed by a lunch meeting with the EU Trade Commissioner.
“Our thinking is that if they loosen this regulatory framework and create a more welcoming environment for American businesses, they could benefit from hundreds of billions—potentially even trillions—of dollars in investment,” Lutnick said.
However, the EU’s antitrust chief firmly ruled out any possibility of relaxing the bloc’s digital regulations. This came after Commerce Secretary Lutnick asserted that Brussels must amend its digital rules to secure a deal on reducing steel and aluminum tariffs. In an interview on Monday, Lutnick reiterated that the U.S. would offer a “very good steel and aluminum agreement” in exchange for the EU easing its tech regulations. The U.S. currently imposes a 50% tariff on steel and aluminum imports from the EU.
“Europe’s digital rules are not up for negotiation,” European Commission Vice President Teresa Ribera said in a statement later on Monday. “We Europeans have established these rules to ensure fair markets, protect consumer rights, and safeguard Europe’s digital future.”
