WASHINGTON, DC - Tom Quaadman, Executive Vice President at the U.S. Chamber of Commerce, issued the following statement today about the EU’s omnibus simplification exercise on the Corporate Sustainability Due Diligence Directive (CS3D): 

"The U.S. Chamber welcomes the European Commission’s omnibus simplification package on CS3D and other measures. This is an important first step in demonstrating the EU’s commitment to reduce the regulatory burden that is sapping the continent’s economic vitality.  While this measure is a welcome step in the right direction, additional pragmatic changes are needed. Despite the proposed changes, the CS3D would still keep non-EU businesses in scope creating conflicts with American law and imposing a harmful liability regime. The Chamber has been and will remain in dialogue with policymakers on both sides of the Atlantic to ensure that this and other EU regulatory measures are non-discriminatory, fit for purpose, and implementable."