Sen. Rick Scott, R-Fla., and Rep. French Hill, R-Ark., have sent a letter to U.S. Trade Representative Jamieson Greer urging the Trump administration to press the European Union to indefinitely pause two EU sustainability rules they argue function as sweeping non-tariff trade barriers for U.S. companies.
In the letter, Scott and Hill congratulated Greer and the administration on efforts to advance a “Framework on an Agreement on Reciprocal, Fair, and Balanced Trade” with the EU, saying they understand the EU has committed to ensuring its Corporate Sustainability Reporting Directive (CSRD) and Corporate Sustainability Due Diligence Directive (CSDDD) no longer “pose undue restrictions on transatlantic trade.”
The lawmakers contend the CSRD’s “double materiality” standard forces companies to disclose information beyond traditional financial materiality, arguing it would impose significant compliance costs, citing estimates that roughly 3,000 U.S. companies could be required to report about 1,200 data points.
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