|Author (Corporate)||Cardiff EDC|
Following an escalation of the trade tensions between the European Union and the United States of America (USA) following the election of Donald Trump for the latter's presidency, the two sides decided to open a new chapter in their bilateral relations by engaging in trade talks to narrow the gap between two diverging visions on trade.
The willingness to change the tone in bilateral trade relations was first signalled by a high-level meeting between the President of the European Commission Jean-Claude Juncker and the President of the United States Donald Trump held on 25 July 2018. A Joint Statement was adopted as a result of these talks. An Executive Working Group was set up to carry a joint agenda forward, which features among other items:
On 29 January 2019, the Commission gave the go-ahead for soya beans from the U.S. to be used in biofuels in the European Union, formally recognising the scheme until July 2021. On the next day, a progress report was published by the Commission on the implementation of the EU-US Joint Statement.
The European Commission published on 18 January 2019 the draft negotiating mandates for trade talks on conforming assessment and on the elimination of tariffs for industrial goods. The Council of the European Union formally adopted the two sets of guidelines for negotiations on 15 April. It was highlighted that the set of issues stemming from the Joint Statement agreed in July 2018 would be the only issues covered by the mandates. The mandates also clarified that the negotiating directives relating to the Transatlantic Trade and Investment Partnership (TTIP) should be considered obsolete and no longer relevant.
Donald Trump stated in May 2019 the United States could impose tariffs on vehicles and parts as they pose a national security threat. A long-standing dispute over government aid to Boeing and Airbus also threatened the trade talks between the two sides.
On 11 July, all EU Member State authorities became recognised under the Mutual Recognition Agreement (MRA) on good manufacturing practices for human medicines (pharmaceuticals).
To mark the first anniversary since the adoption of the EU-U.S. Joint Statement, the European Commission published on 25 July 2019 a progress report providing an overview of the progress made and illustrating the depth of the engagement between the two sides.
|Subject Tags||Bilateral Relations, External Trade | Trade Agreements|
|Countries / Regions||United States|
|International Organisations||European Union [EU]|