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EU Trade Chief Upbeat on Narrow Deal with U.S.
A trade deal between the European Union and U.S. that focuses on industrial goods could be accomplished “quite quickly,” says EU Trade Commissioner Cecilia Malmstrom.
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A trade deal between the European Union and U.S. that focuses on industrial goods could be accomplished “quite quickly,” says EU Trade Commissioner Cecilia Malmstrom.
But she adds that the expansive pact envisioned by President Donald Trump is “in the freezer.” That deal would encompass far more politically sensitive areas for the EU, such as agricultural and food products.
The two sides agreed last July to suspend their escalating trade war but have made little progress since then. The EU is eager to show progress in the negotiations to avoid stiff U.S. tariffs on vehicles imported from Europe.
Trade ministers from the 28 EU member states will meet tomorrow in Bucharest to discuss moving forward with a focused proposal. The offer is expected to entail an end to EU tariffs on most industrial goods, including cars. It also reportedly would embrace efforts to standardize regulations between the two markets.
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