Main news from Brussels this week
date: 22/06/2018
EU adopts rebalancing measures in reaction to US steel and aluminium tariffs
On 20 June, the European Commission finalised, in line with World Trade Organisation (WTO) rules, the EU's rebalancing measures in response to US tariffs on steel and aluminium. The measures will immediately target a list of products worth €2.8 billion and will come into effect on Friday 22 June. The list of US imports that face an extra duty at the EU border includes steel and aluminium products, agricultural goods and a combination of various other products.
European Commission welcomes progress on key initiatives on the Capital Markets Union
On 20 June, the European Commission welcomed progress made by member states on two important issues which will help drive forward the Capital Markets Union (CMU). Ministers agreed the cross-border distribution of investment funds package and the pan-European personal pension product (PEPP). The Council Presidency can now start 'trilogue' negotiations with the European Parliament, with the Commission acting as 'honest broker'. The investment funds package will further reduce barriers to the cross-border distribution of funds by improving the transparency of marketing rules and regulatory fees and by harmonising national practices. The proposal on personal pensions will give Europeans more choice when saving for retirement. PEPP savers will be able to take advantage of EU-wide portability, transparency of costs and the possibility to switch providers.
European Commission's proposal
EU launches talks with Australia and New Zealand on broad trade agreements
This week, EU Commissioner for Trade Cecilia Malmström visited Australia and New Zealand to launch negotiations for comprehensive and ambitious trade agreements, thus boosting growth and jobs on all sides.
More information on trade negotiations with Australia
More information on trade negotiations with New Zealand
Informal meeting on migration and asylum issues
European Commission convened an informal working meeting on migration and asylum issues which will take place on Sunday 24 June in Brussels. On 21 June, in the context of the upcoming European Council, the Commission published a note on migration. It provides an overview of the work over the past three years on the European Agenda on Migration proposed by the Juncker Commission in May 2015. The note also highlights areas EU leaders meeting next week at the European Council can focus on to take forward the debate on migration. In his remarks the EU Migration, Home Affairs and Citizenship Commissioner, Dimitris Avramopoulos said: "Migration is again making headline news. I feel encouraged by this because it means there is growing political will to act and agree on a number of important issues that will define our future migration policy".
European Commission note on migration
Speech by Commissioner Dimitris Avramopoulos on managing migration
All this week's key European Commission announcements can be found here