4 June 2026 11:55 UTC · European Commission · EU Commission Press Release · Source · Email X Link

European Commission says EU pushes trade reforms at OECD

Key points

Calls for industrial policies ensuring a level playing field
Reports progress on tariff reductions and bilateral trade talks

TL;DR

Commissioner Šefčovič says non-market practices create chronic overcapacities that disrupt global markets and require policy responses.
He reports a US update that reduces tariffs on several billion euros of EU exports to a 15% all-inclusive rate, down from 25% plus.
He notes ongoing bilateral engagement on WTO reform and trade agreements with partners including Australia, CPTPP countries, Brazil, Uruguay, Türkiye, China, New Zealand, Canada, and Singapore.

Original text

European Commission - Speech [Check Against Delivery] Remarks by Commissioner Šefčovič at the press conference following the OECD Ministerial Council Meeting Paris, 4 June 2026 Good afternoon. I am wrapping up two intensive days at the OECD – back-to-back Ministerial sessions and a packed schedule of bilateral meetings. This year's Ministerial theme was well-chosen, as also mentioned to Secretary General Cormann. Open and fair trade requires industrial policies built on a true level playing field – globally. It is not an aspiration. It is a must. That principle was at the heart of my interventions. The EU's position is clear and consistent – non- market practices generate chronic overcapacities that disrupt global markets, undercut fair competition and put many key industries at risk. That is not something we can absorb indefinitely. So, it demands a policy response – and the EU is not alone in saying so. In this context, I also appreciate Australia's initiative to convene a focused follow-up on WTO reform. Again, the EU's approach here is consistent – the WTO must be equipped to meet today's challenges, not just the ones it was designed for decades ago. Now, a few highlights from my bilateral meetings. And I will start with my engagement with U.S. Trade Representative, Ambassador Greer. We reviewed progress on implementing the EU-US Joint Statement and reconfirmed our shared commitment to keep moving forward in good faith. The big picture matters here. Transatlantic trade in goods and services surpassed 2 trillion dollars last year. Both sides grew their exports – US exports by 5%, EU exports by 4% and importantly, our trade is truly balanced. While work remains, we are moving in the right direction, including on steel derivatives. I have raised this consistently with my counterparts and I am glad that it is beginning to yield results. The latest US update means that a substantial tranche worth several billion of EU exports will now fall under the 15% all-inclusive tariff – down from 25% plus. That is a meaningful step forward and I will keep engaging on more tariff reductions. As you know, the EU continues to double down on positive engagement with partners across the globe. With Australian Minister Farrell, we updated each other on the ratification of our freshly agreed free trade agreement and discussed how to get into higher gear on digital trade collaboration with CPTPP countries – a conversation we continued with Singaporean Minister Fu and Canadian Minister Sidhu, while I will also touch upon this issue with my counterpart from New Zealand, Minister McClay later today. I also had very good meetings with Brazilian Minister Vieira and Uruguayan Minister Oddone. The EU- Mercosur Agreement is now in force, and we share the same conviction that the best is yet to come thanks to new trade and investment opportunities created. With Türkiye's Minister Bolat, we discussed a High-Level Dialogue to be held in October. My hope is a reinforced trade partnership, grounded in a well-functioning Customs Union. In my meeting with China's Vice-Minister Chenggang Li, we focused on deepening engagement on WTO reform and on rebalancing our bilateral trade and investment relationship. My objective is a practical, result-oriented approach to addressing our concerns – not escalation. But any path forward needs to be meaningful and sustainable. To that end, I have invited Minister Wang Wentao to Brussels, as is well known. All in all, my bilateral meeting schedule was extensive, and each meeting carried its own significance. Without being exhaustive, I am happy to take your questions. Thank you. SPEECH/26/1268

European Commission says EU pushes trade reforms at OECD

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