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Fourth Trade Specialised Committee on Goods on 23 October 2024: Minutes

Updated 26 June 2025

Minutes of the Fourth Trade Specialised Committee on Goods, 23 October 2024

The EU co-chair welcomed participants to the meeting. The provisional agenda as published in advance was adopted. Both Parties made an opening statement, noting the shared ambition for an open and constructive dialogue.

Item 2 – Review of completed obligations under the Goods heading

The Parties noted the obligation in Article 31 of the TCA as regards the exchange of data on Preference Utilisation Rate (PUR). This exchange took place on 14 June 2024. The Parties noted that the existing working methods work well and will maintain them.

Item 3 – Taking stock in the trade in goods, including on Preference Utilisation Rates (PUR)

Both Parties delivered presentations outlining key features of import/export flows, noting that bilateral trade in 2023 has recovered in current prices but remains subdued and observed decline in trade for some product categories such as mineral products.

The parties noted how there may be some cyclic economic factors impacting the data observed, and noted that a stabilisation of the energy prices may bring a greater degree of stability that may help bilateral trade.

Both Parties also presented on preference utilisation rates (PUR), following the data exchange in advance of the meeting in line with Article 31 of the TCA. Analysis from both Parties showed high levels of utilisation rate on both sides, noting some variation on specific sectors. Both Parties agreed that it would be useful to continue the useful exchange of information at a technical level on the topic.

Item 4 – Carbon Border Adjustment Mechanisms

The EU provided an update on the implementation of its Carbon Border Adjustment Mechanism (CBAM), highlighting that it is in its transitional phase during which only reporting is required and that this  is a learning phase. The EU also explained that they made various guidance documents available to help importers and operators. The UK asked a number of questions about the reporting, both on quality and the use of default and actual values and inquired about key lessons learnt in the transition period on compliance/ possible changes. The EU indicated that the frequently asked questions it published provides many of the answers.

The UK confirmed that work on CBAM will continue under the new government with a number of policy proposals still to be confirmed.  The UK noted the recent CBAM consultation which ran from 21 March 2024 until 13 June 2024. The UK are analysing the responses with a view of publishing the outcome shortly.

The UK noted some key UK CBAM design elements including sectoral scope and emissions scope. The UK noted some differences between the UK and EU CBAM including the proposed minimum registration threshold of £10,000 in value of CBAM goods over a rolling 12- month period.

The UK noted that there was a high level of interest in EU CBAM requirements among UK businesses and they sought clarity on the reporting process and how the Commission might incorporate feedback, whilst welcoming the cooperation both Parties have had to date. The UK enquired about the discussion on traded electricity in the CBAM. These were discussed at a technical meeting on 16th of October and the EU noted that further studies and implementing acts are in the pipeline. Electricity is raising a number of issues and the EU looks forward to continuing discussions.

The parties noted mutual interest to continue technical discussions and noted that they are aligned when it comes to the level of climate ambition and associated risk of carbon leakage and concurred that it would be important to ensure close alignment of their respective CBAMs, in particular regarding its application to third countries.

Item 5 – Exchange of information on Supply Chain Initiatives in the EU and UK

The UK introduced the item, noting that the Global Forum on Steel Excess Capacity (GFSEC) Ministerial took place on 8 October 2024 under the UK Chair, and thanked the EU for its support. The UK noted that the Ministerial statement reflects in detail the very challenging situation of the sector, in particular due to increased overcapacity and mentioning that urgent solutions are needed in the sector.

The EU thanked the UK for their steering of the GFSEC in their position as chair for 2024. The EU  noted that the EU and UK industries share similar challenges as a result of excess capacity, which only makes it more difficult to transition to a lower carbon future, and the expiry of their respective safeguard measures on 30 June 2026. As such, it is important that the GFSEC remains an active forum, so that like-minded parties like the EU and the UK continue engaging towards finding the best solution to the overcapacity problems.

The EU then gave an update on the activity in the Mineral Security Partnership Forum (MSP), noting it is a coordination platform of which both the EU and the UK are part and that the number of members is increasing. The EU mentioned that the first physical meeting of the MSP Forum took place in September and it would like to organise workshops on private investment and another one on ESG.

The UK noted that security of supply remained key and mentioned it would be open to helping the EU in relation to the three potential new members and the workshops being developed. The UK also highlighted that it also leads on two MSP projects. The EU concluded that it was important to highlight the complementarity of the different projects, also to get them off the ground.

The EU and the UK agreed the importance of our cooperation on critical minerals. The parties referenced an upcoming technical session as an opportunity to discuss the EU Critical Raw Materials Act and our collaboration on its implementation.

The EU presented on the state of play of the Internal Market Emergency and Resilience Act (IMERA). The EU informed the UK of its imminent publication on the Official Journal and confirmed that it will be fully applicable mid-2026. The EU explained that IMERA is designed to protect the free movement of goods, services and persons across the EU in times of crisis. It will ensure that essential goods and services remain accessible, benefiting both EU citizens and businesses. With increased transparency and stronger coordination, IMERA strengthens the Single Market’s ability to weather future crises that have a negative impact on its functioning, irrespective of the crisis’ nature.

The UK indicated that it recognised the objective of IMERA and shares similar concerns about supply chain management, however indicated that Member State stockpiling requirements, information requests to third country suppliers, priority rated orders and national treatment in procurement could be problematic. The UK asked the EU to provide clarification and outlined opportunities for collaboration. The EU replied in detail, indicating that certain UK concerns, such as around stockpiling are based on older versions of the text. The EU confirmed that the final text of the instrument no longer includes some of the obligations mentioned by the UK. The EU also stressed that IMERA is in line with the EU’s obligations under international law. The UK took note.

The UK then gave a brief update of its approach to semiconductors and chips, noting the dynamic environment for start-ups in the country and highlighting its main areas of strength and presented the ChipStart initiative. The UK enquired whether the EU sees possibility for additional cooperation in the field, and whether the EU was considering engaging third countries in Pillar 3 efforts to map the supply chain, or as Observers in the European Semiconductor Board. The EU noted the interest and indicated that there were no current plans to involve third countries in efforts to map the supply chain or to invite third countries as observers in the European Semiconductor Board.

The EU welcomed the UK ChipsStart initiative and indicated that there is a similar platform under the ChipsJU. The EU also indicated that there are initiatives on trustworthy chips but also the cybersecurity act. The EU highlighted that Digital Partnerships are ongoing with several countries and two TTCs with India and US, and indicated that it believes that multilateral cooperation is more effective in this area. The EU indicated that it is working towards a review of the Chips Act in September 2026.

Item 6 - Exchanges on information on ongoing activities as regards to Economic Security

Finally the parties presented their respective thinking on economic security. The EU explained that it seeks a maximum degree of openness while being conscious of the risks of interdependencies, and explained the main pillars of its strategy stressing that it is a strategy that is not focussed on specific countries, and deeply rooted in the multilateral rules-based system to ensure stability and predictability.

The UK outlined that it is pursuing long-term growth that is resilient to geopolitical shocks, where economic based threats to national security are mitigated in a targeted and proportionate way. Cooperation with partners such as the EU was vital to the success of this approach. The UK noted the essential nature of upholding openness to global trade in the face of economic security challenges. It then provided an update of recent developments in some policy areas including inward investment and supply chain resilience.

Both parties noted the importance of partnering internationally on economic security matters and agreed that further exchanges would be useful.

Item 7 – AOB and Closing Remarks

The Parties concluded the meeting welcoming the discussion noting that the trade relationship between the EU and the UK is going in the right direction. The co-chairs agreed the committee worked well in integrating talks from multilateral fora into discussions between two G7 partners. Both sides agreed on the importance of further cooperation on the areas discussed, indicating in particular a mutual interest to follow up on Economic Security. The parties also indicated mutual interests in further discussions on CBAM. The parties finally agreed that all bilateral informal discussions should report to this TSC and the institutional framework of the TCA.

Participation list

UK Delegation

• UK Co-chair of the Trade Specialised Committee on Goods
• UK Government Officials from DBT, DESNZ, DSIT, FCDO, HMT and HMRC
• UK Government Officials from the UK Mission to the European Union
• Scottish Government Officials
• Welsh Government Officials
• Jersey, Guernsey and Isle of Man Government Officials

EU delegation

• EU Co-chair of the Trade Specialised Committee on Goods
• European Commission Officials (TRADE, TAXUK, SecGen, GROW, CNECT)
• EU Officials from Delegation of the European Union to the UK
• Representatives of EU Member States

Agenda for the fourth Trade Specialised Committee on Goods

Brussels and via videoconference, 23 October 2024

9:30 to 12:30 CEST / 8:30 to 11:30 BST

Agenda Item
1	Opening remarks and adoption of the agenda
2	Review of completed obligations under the Goods heading and Actions from the previous TSC on Goods
3	Taking stock in the trade in goods
4	Carbon Border Adjustment Mechanism
5	Exchanges of information on Supply Chain Initiatives in the EU and the UK
6	Exchanges on information on ongoing activities as regards to Economic Security
7	AOB and closing remarks