EU-US Trade Statement Held Up Over Digital Laws, FT Says
The EU and the US are facing a delay in finalizing a joint trade statement due to tensions over digital regulations. According to the Financial Times, the EU is pushing to ensure that its digital laws, such as the Digital Markets Act and the Digital Services Act, are protected in the statement. The agreement was initially reached during the G7 summit in Scotland last month, but the final text has not been finalized yet. The delay is attributed to the EU's desire to maintain its autonomy in regulating the digital space, which has been a point of contention with the US. Both sides are keen to strengthen their economic ties and cooperation, but the dispute over digital regulations has become a stumbling block in the negotiations. The final statement is expected to cover a range of trade-related issues, including tariffs, supply chains, and sustainable development.
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