EU Deeply Disagrees With U.S. On Trade Despite Detente

The European Union’s detente on tariffs with the United States has not put to rest “profound disagreements” on trade policy, the European commissioner in charge of trade said. Speaking to the trade committee of the European Parliament on Thursday, European Trade Commissioner Cecilia Malmstrom discussed a group that she and U.S. Trade Representative Robert Lighthizer will lead to determine how tariffs might be removed on industrial goods. “We are not negotiating anything, we have a working group. We have profound disagreements with the United States on trade policy,” Malmstrom told EU lawmakers. A number of those lawmakers were fierce critics of a planned EU-U.S. Transatlantic Trade and Investment Partnership (TTIP), negotiations on which ended after Trump’s election victory in 2016. “We are not restarting TTIP ... This could be a more limited trade agreement, focused on tariffs on goods only,” Malmstrom said.

Share this post


Link to post
Share on other sites

In same time - European auto stocks jump after the EU offers to cut tariffs on U.S. cars... 

Share this post


Link to post
Share on other sites

2 minutes ago, Petar said:

In same time - European auto stocks jump after the EU offers to cut tariffs on U.S. cars... 

"During a first meeting in Washington last week, an EU proposal for including cars in the discussions was rejected by the U.S."

And, today Topic: "EU says it is willing to scrap car tariffs in US trade deal"

https://www.politico.eu/article/eu-says-it-is-willing-to-scrap-car-tariffs-in-us-trade-deal/

Share this post


Link to post
Share on other sites

This was pretty clear in the Trump-Juncker statement. But anyway, can the agreement be WTO-compliant leaving out such a big part of bilateral trade?

Share this post


Link to post
Share on other sites

Well let's hope the talks are fruitful with the EU, then onto talks with China to offset the looming trade war...

Share this post


Link to post
Share on other sites

U.S. has no free trade agreements neither with China, nor with EU, nor with Japan - they represent 73% of the U.S. trade deficit. TPP (growing into FTAAP with China) and TTIP would have eliminated tariffs between U.S. and these countries.....

Share this post


Link to post
Share on other sites

I just wanted to add that the US is taking steps to properly manage its trade IMO.

Europe does not like the new US positions on trade and I dont blame them. The US needs to work toward balanced trade for the long term health of its economy. I believe the US has been incompetent in managing trade at least since the beginning of this century.  Current economic leadership such as Wilbur Ross, Lightheiser, Kudlow and others have focused on long term US interests as they should be doing.

Germany as an example is an ally. However on a trade basis one could be excused for thinking they were an enemy. The US has professed an interest in free markets while Germany has basically put such huge tariffs on US Cars that US car dont really exist in Germany to a meaningful degree. 27% tariffs if I remember correctly?

I would like to see free trade but 10,000 page restriction agreements are not free trade. They are trade restrictions. The US government and people I think see the economic benefits of not exporting companies and jobs to the rest of the world and will not turn back. In effect the US has exported the greatest manufacturing base in the history of civilization. Some of that has been good for the world. However a weak and economically disadvantaged US is also a threat to the rest of the world economy.

In the short term the US needs to reassert its economic viability but in the long term the world will benefit from all countries in the G7 being strong and vibrant. Who else sets the example for freedom and free and fair markets? To conclude, pretending markets are free and fair does not make it so.

Share this post


Link to post
Share on other sites
Sign in to follow this  
Followers 0