Europe

A push led by the Office of the U.S. Trade Representative to conduct trade talks with the European Union in stages could allow the U.S. and EU to sidestep a politically fraught debate over whether to include agriculture in the scope of an initial agreement, sources tell Inside U.S. Trade.

“Our markets are so volatile right now because of a statement that's made here or there and we're sitting here with our beans hoping that we can go back to normal trade.”

Industry groups are targeting the regulatory regime of the United Kingdom in submissions addressing a potential free trade agreement with the U.S., seeking to align the soon-to-be former European Union member state more closely with U.S. regulations than those of the EU.

“This approach fails ... there are big differences in the different segments of the steel market.”

The Office of the U.S. Trade Representative has included agriculture in its negotiating objectives for a free trade deal with the European Union, which could put negotiations with the bloc in doubt before they officially begin.

EU Trade Commissioner Cecilia Malmström on Thursday said talks with her U.S. counterpart were “very constructive,” with regulatory cooperation an area in which the U.S. and EU might be able to agree to outcomes even if talks on a broader trade agreement stall.

Trade ministers from the U.S., EU and Japan focused on non-market oriented policies and practices during a meeting in Washington, DC, this week, and instructed staff to finalize text on industrial subsidies in hopes of engaging other World Trade Organization members on the issue this spring, according to a joint statement.

The tech industry group says Sam Rizzo's “expertise and experience in trade policy will deepen our bench and provide great value in an area that is a top priority for our members.”

The EU says the measures are needed due to concerns that steel subject to Section 232 tariffs in the U.S. could be dumped in the bloc.