EU-U.S. trade talks – one year on, Commission presents progress report

Malmstrom

European Union, 2019
Source: EC – Audiovisual Service

This article is brought to you in association with the European Commission.


Today marks the first anniversary of the Joint Statement by President Juncker and President Trump, which launched the new phase in the relationship between the United States and the European Union.

As a first step, the Presidents set up an Executive Working Group, co-chaired by Commissioner for Trade Cecilia Malmström and her counterpart US Trade Representative Robert Lighthizer, to work on the different tracks for cooperation identified in the Joint Statement.

One year on, a series of concrete actions have been achieved, taking the trillion-dollar transatlantic trade relationship to the next level.A report on the implementation of the EU-U.S. Joint Statement of 25 July 2018 was published today, providing an overview of the progress made and illustrating the depth of the engagement between EU and U.S. over the past year, both at political and technical level.

On this occasion, the President of the European Commission, Jean-Claude Juncker said: “The European Union is delivering on what President Trump and I agreed on this day last year. We want a win-win situation on trade, which is beneficial for both the European Union and the United States. Having one of the most important economic relationships in the world, we want to continue strengthening trade between us based on the positive spirit of last July.”

Since July 2018, the EU has significantly increased its imports of liquefied natural gas (LNG) from the U.S. by over 367%. So far, in 2019, one third of all U.S. LNG exports have gone to the EU. The U.S. is the EU’s third largest supplier of LNG, while the EU has emerged as the primary destination of U.S. LNG exports.

EU imports of U.S. soya beans increased by almost 100% from July 2018 to June 2019, compared to the same period the previous year. The United States is now Europe’s number one soya beans supplier and has been able to expand its market further, following the decision by the European Commission on 29 January 2019, to authorise the use of U.S. soya beans for biofuels.

Following the Council’s mandate of 15 April 2019 to open talks with the U.S. for a horizontal agreement on conformity assessment, there have already been three rounds of constructive discussions on regulatory cooperation. An EU-U.S. agreement would allow exporters from a wide range of sectors to get certification of their products in their own country (as opposed to, for example, sending samples to the export destination).

The Council gave the Commission the authorisation to open talks with the U.S. on eliminating tariffs on industrial goods. While it was not yet possible to launch negotiations in this area due to diverging objectives on the two sides, the EU remains ready to engage with the U.S. along the lines agreed between the two Presidents in July 2018.

Regarding cooperation on standardsthe EU presented its ideas on a deeper cooperation in strategic sectors, in particular those related to emerging technologies, such as 3D printing, robotics and connected vehicles. Important progress has been made in the areas of pharmaceuticals, medical devices and cybersecurity. On pharmaceuticals, the EU and U.S. reached a milestone on 11 July 2019, as all EU Member State authorities were recognised under the Mutual Recognition Agreement (MRA) on good manufacturing practices for human medicines. This has already resulted in cutting of costs for businesses and freeing up administrative resources, by avoiding the duplication of inspections.

The EU and U.S. have engaged to identify and address distortions caused by unfair market-distorting trade practices. Together with Japan, both partners have submitted a joint proposal in the World Trade Organization (WTO) to enhance Members’ compliance with transparency requirements. The trilateral EU-U.S.-Japan process is also expected to lead to proposals for new rules on industrial subsidies and State Owned Enterprises.

In addition, a recent example that illustrates the excellent cooperation fostered in the spirit of the July 2018 Joint Statement, is the agreement found on the share of a duty-free tariff rate quota for U.S.exports of hormone-free beef to the EU market.

The EU continues to make the case for ending U.S.tariffs on steel and aluminiumcomingfromthe EU, which would also benefit the U.S., since Americanproducers would be able to source these materials more cheaply from the EU. The EU could then also remove the rebalancing tariffsonU.S.exports.

Background

The United States and the European Union have a $1 trillion bilateral trade relationship with more than €3 billion in two-way trade every single day. Together both sides count more than 830 million citizens and close to 50% of global Gross Domestic Product. This is the largest economic relationship in the world.

With their Joint Statement of 25 July 2018, President Juncker and President Trump expressed their commitment to further strengthen this trade relationship to the benefit of all American and European citizens.

Advertising

Advertising

Advertising

Advertising

Advertising

Advertising

Advertising

Advertising

Advertising

Advertising

Advertising

Advertising

Advertising

the European Sting Milestones

Featured Stings

These campaigners want to give a quarter of the UK back to nature

How to build a more resilient and inclusive global system

Stopping antimicrobial resistance would cost just USD 2 per person a year

At this Italian bookshop, children swap their recycling for something to read

Making the most of the Sustainable Development Goal 3: its overlooked role in medical education

Mergers: Commission clears E.ON’s acquisition of Innogy, subject to conditions

Confirmed ‘Blue Line’ tunnels ‘do not appear’ to surface in Israel – UN peacekeeping chief

A Young entrepreneur cries out: “start in Europe, stay in Europe”

From violence to dialogue: as land conflicts intensify, UN boosts efforts to resolve disputes through mediation

US – Russia bargain on Syria, Ukraine but EU kept out

EU and Japan select first Erasmus Mundus Joint Master Programmes

New book honours UN women who made HERstory

There are more than 1 billion guns in the world and this is who owns them

Around 600,000 Afghan children face death through malnutrition without emergency funds: UNICEF

IFMSA and IPSF on the Health of Migrants and Refugees

EU budget: Commission proposes most ambitious Research and Innovation programme yet

Why precision medicine is the future of healthcare

UN chief condemns terror attack in Kismayo, Somalia

This Mexican company is making biofuel from cactus plants

Half the world’s refugee children not in school, UN agency finds

MEPs approve boost to workers’ rights in the gig economy

Berlin and Paris pursue the financial fragmentation of Eurozone

FROM THE FIELD: Watering the parched farmland of São Tomé and Príncipe

Draghi cuts the Gordian knot of the Banking Union

UN food agency begins ‘last resort’ partial withdrawal of aid to opposition-held Yemeni capital

EU Copyright Directive: Will US tech giants comply or ditch the EU market?

Greenery: the miracle cure for urban living

Why Eurozone can afford spending for growth

An ageing workforce isn’t a burden. It’s an opportunity

Portugal can use its economic recovery to build up resilience

Khashoggi case highlights ‘very worrying practice’ of overseas abductions, says UN expert

How can entrepreneurship tackle the migration crisis in the EU?

UN chief praises New Zealand premier’s ‘admirable’ response to Christchurch attacks

45th Anniversary of the French Confederation (Confédération Nationale des Junior Entreprises)

UN experts urge United Arab Emirates to release terminally ill woman to live her last days ‘in dignity’

How music can help children with autism connect

EU’s unsparing question to UK: now what kind of future relations do you want?

July was the hottest month ever – what does that actually mean?

We can save our ocean in three steps – if we act now

The West unites against Mali desert rebels

How a teen refugee survived a shipwreck and saved a baby’s life

‘Staunch support’ for Iran nuclear deal tempered by concern over missile testing

‘Pioneering’ former Chilean President Michelle Bachelet officially appointed new UN human rights chief

5 ways to #BeatAirPollution

China Unlimited: the dragon’s long and winding road

Metrics of the Sustainable Developments Goals: Can we trust our data?

Scourge of slavery still claims 40 million victims worldwide, ‘must serve as a wakeup call’

Spotlight Initiative – EU and UN fight against domestic violence in the Pacific region

Congolese expelled from Angola returning to ‘desperate situation’: UN refugee agency

Greece may offer to China a European gateway

Utmost hypocrisy emitted by EU’s energy regulation

The JADE Spring Meeting is about to begin

Ceasefire holds in Tripoli, but core problems remain, says UN Libya mission chief

COP21 Breaking News_10 December: UN Climate Chief Calls for Final Push to Meet Adaptation Fund Goal Very Close to Target

What keeps me up at night? Two strategists reply

Syria: UN chief warns Idlib offensive may set off ‘humanitarian catastrophe’

These are the fastest trains in the world

What makes America the world’s most competitive economy?

COP21 Breaking News: Paris Pact on Water and Climate Change Adaptation Announced

MWC 2016 LIVE: The top 5 themes of this year’s Mobile World Congress

The EU launches € 1 billion plan on supercomputers and tries to catch-up with competitors

Most people on the internet live in this country

These are the world’s best cities to be a cyclist

More Stings?

Speak your Mind Here

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s