Cefic statement on the EU-US deal on tariffs

Cefic took note of the newly announced EU-US agreement on tariffs and trade and urges the publication of further details as soon as possible. While the deal appears to have averted the worst-case scenario, the additional US tariffs on European exports risk further undermining the competitiveness of the EU chemical industry. This development serves as another reminder of the urgent need for full and swift implementation of the recently published Chemical Industry Action Plan. 

The imposition of additional tariffs disrupts trade and investment flows across the Atlantic. This poses a serious challenge for a highly integrated transatlantic chemical industry, which relies heavily on intra-industry and intra-company trade. Raw materials and intermediates are frequently transported back and forth across the Atlantic, with added value generated at each stage of production.

The proposed inclusion of certain chemical substances within the scope of a “zero-for-zero tariff” agreement is a positive and encouraging signal. However, favourable trade conditions must be extended to the entire chemical sector. Cefic therefore calls on both parties to work towards a comprehensive and balanced sectoral agreement that ensures fair trade conditions, enhances predictability, and strengthens the global competitiveness of the European industry.

As a strongly export-oriented sector, the European chemical industry urges all EU policymakers to intensify efforts in advancing the EU’s free trade agenda and to secure access to new markets for European chemical companies. In conclusion, Cefic reaffirms the industry’s commitment to rules-based trade and expresses its readiness to support initiatives aimed at deepening EU-US cooperation and building a resilient, future-oriented chemical sector in Europe.