Europe

U.S. industry stakeholders are not optimistic about the chances that ongoing U.S.-EU trade discussions will produce meaningful progress on regulatory issues, seen by some as the most attainable outcome of the trans-Atlantic talks.

The European Parliament’s International Trade Committee is considering a motion that would ask the Council of the EU -- representing the EU’s 28 member states -- to reject negotiating mandates it is considering that would allow the European Commission to formally launch trade talks with the United States.

"The Commission remains open to consider voluntary cooperation activities in additional sectors even if these are not mentioned explicitly in the Joint Statement."

Trade law calls for “outreach to small businesses across the U.S. to better understand important concerns regarding trade with these markets and how trade agreements would benefit small businesses.”

Industry groups on Tuesday said a future trade agreement with a post-Brexit United Kingdom should build off language in the U.S.-Mexico-Canada Agreement, particularly its e-commerce and regulatory provisions.

“From the U.S. standpoint I don't know how you make that sale at all. Why do the heavy lifting of work on an agreement and leave unchanged some of the strongest tensions we have?”

The U.S. International Trade Commission will hold a hearing on the possible economic effects of a U.S.-UK deal on Thursday.

In a draft negotiating mandate published on Friday, the European Union said a trade deal on industrial goods could not be struck with the U.S. until Section 232 tariffs on steel and aluminum were lifted and Washington agreed not to impose such tariffs on autos and auto parts, or levy Section 301 tariffs on the EU.