EUUS trade relations after President Trump Laura Puccio

EU-US trade relations after President Trump Laura Puccio 27/11/2017 EPRS |

Introduction ― US new trade agenda: Ø Protectionist pressures and trade defence measures Ø Shift from multilateral, plurilateral and regional agreements to bilateral ― TTIP has been on hold ― Ti. SA, EGA de facto on hold ― Multilateral negotiations in view of MC 11 difficult EPRS | EU-US trade relations 26/11/2020 2

Small but important areas of progress in EU-US relations Ø • • The Privacy Shield Importance of transatlantic digital economy 2570 organisations have self-certified and are considered active US seems committed to make the Privacy Shield function The Privacy Shield has implications beyond the EU: EEA and Switzerland • Article 29 WP has requested to tackle some open questions Ø Two regulatory agreements were adopted 1. The Mutual Recognition Agreement (MRA) on Good Manufacturing Practices (GMP) 2. The Bilateral Agreement between the European Union and the United States of America on Prudential Measures regarding Insurance and Reinsurance EPRS | EU- US trade relations 26/11/2020 3

Challenges Ø Difficult cooperation in multilateral and plurilateral negotiations 1. 2. 3. 4. US opposition to the ministerial declaration US has been relatively unengaged in ongoing negotiations (fisheries, public stockholding) Blocking of the appointments to the WTO Appellate Body EU, US and China Market Economy Status Ø US Trade Defence Measures investigations targeting EU MS + section 232 of the Trade Expansion Act Product Instrument Case Status Initiation Countries investigated Forged steel fittings Anti-Dumping Investigation 12 October 2017 Italy Ripe Olives Anti-Dumping Investigation 12 July 2017 Spain Ripe Olives Countervailing Investigation 12 July 2017 Spain Citric Acid Anti-Dumping Investigation 23 June 2017 Belgium Residential washers Safeguard Investigation 05 June 2017 European Union Solar cells Safeguard Investigation 17 May 2017 European Union mechanical tubing Anti-Dumping Investigation 10 May 2017 Germany , Italy wire rod Countervailing Investigation 17 April 2017 Italy wire rod EPRS | Presentation Title Anti-Dumping Investigation 17 April 2017 Spain , Italy , United 26/11/2020 4 Kingdom

The Possible Scenarios Ø TTIP resumed • • • Importance of trade flows between the EU and US with respect to trade in goods, services and investments; rationale for a comprehensive agreement Divergences and main interests Other variables that could influence the decision on TTIP: Brexit and Ti. SA Ø ‘Reduced’ TTIP (very unlikely) Ø conclusion of regulatory agreements (with or without Ti. SA resumed) • • • Reuse the progress obtained on regulatory cooperation to issue stand-alone agreements on some regulatory issues (like in the case of Pharmaceuticals) Stakeholders pressures Existing MRA and regulatory chapters in TTIP Ø No new agreement negotiated focus is on trade defence monitoring EPRS | EU-US trade relations 26/11/2020 5

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