The Council agreed on the importance of strengthening transatlantic relations. Ministers discussed the upcoming third meeting of the Trade and Technology Council, which will take place on 5 December 2022 in the US. At the same time, concerns were raised by some Member States regarding the negative impact of the US Inflation Reduction Act on the European Union. The global arrangement on sustainable steel and aluminium also resonated in the discussions.

"The US remains a key partner and in the current geopolitical context it is all the more important to further deepen our relationship. It is not a good thing that the recently passed US Inflation Reduction Act could undermine that relationship. That is why we hope that the established working group will find a quick and lasting solution," says Minister of Industry and Trade Jozef Síkela.

Representatives of the EU Member States also supported further assistance to Ukraine, and trade can play an important role in this regard. During the working lunch, ministers also discussed the next steps in relation to trade agreements with New Zealand, Chile, Mexico and Mercosur, as well as the ongoing negotiations on free trade agreements with countries in the Indo-Pacific region.

"One of the important priorities of the Czech Presidency is to strengthen the resilience of the EU. In this context, diversification of resources through the negotiation of new agreements is an important aspect," Minister Síkela added.

The ministers also assessed current developments in the WTO. Despite the difficult geopolitical situation in the context of the Russian aggression against Ukraine, the 12^th WTO Ministerial Conference took place in June. Preparations are now underway for the upcoming 13^th Ministerial Conference.