Europe

The European Union should not enter into an investment agreement with China without first working with President-elect Biden and the 117th Congress to combat Beijing’s trade practices, Sens. Pat Toomey (R-PA) and Mark Warner (D-VA) said in a statement on Monday.

“It is a good deal, it’s a bespoke deal. It wouldn’t take too much bandwidth to get it through Congress, and we’d be delighted to work with the Biden administration.”

The Trump administration is imposing tariffs on additional goods from Europe in response to what it says were unfair calculations made by the European Union in its approach to retaliating against the U.S. for subsidies provided to Boeing, the Office of the U.S. Trade Representative said on Wednesday. 

The Biden administration would welcome “early consultations” with the European Union on ways to address mutual concerns about Beijing’s economic practices, Jake Sullivan, President-elect Joe Biden’s pick for national security adviser, said on Monday.

The European Union on Tuesday unveiled two new legislative proposals on digital services and markets, prompting pushback from U.S. trade associations that called the possible moves protectionist and discriminatory.

The U.S. should “embrace” Europe’s recent overture to improve trade relations with the U.S. and forge a new arrangement to counter China’s “intensifying” ambitions, House Ways & Means Committee Chairman Richard Neal (D-MA) said this week.

The United Kingdom will suspend retaliatory tariffs against the U.S. as part of the long-running Airbus-Boeing dispute to show it is “serious” about a negotiated settlement, the country’s trade department announced on Tuesday, saying it hoped to “de-escalate” trade conflicts – but retaining duties imposed in response to the Trump administration’s Section 232 tariffs on steel and aluminum.

“France’s decision to collect a discriminatory digital services tax next month represents an escalation against American employers and leave more U.S. industries open to unfair foreign taxes.”

The European Commission should use the momentum generated by a limited tariff deal with the U.S. to advance toward a “broader cooperation agreement” that goes beyond tariff reductions, members of the European Parliament argue in a resolution under debate this week.