Europe

British Trade Secretary Liz Truss this week insisted negotiations with the U.S. on a comprehensive free trade agreement were “intensifying” enough to put the two countries in a “good position” ahead of the U.S. elections on Nov. 3, which could shake up talks already facing hurdles.

The U.S. and European Union must join forces on World Trade Organization reform, a former Trump White House economic and trade adviser argues in a new Atlantic Council report that outlines potential ambitious proposals addressing China, emerging technologies, intellectual property, environment and dispute settlement.

The top European Union lawmaker on trade urged his colleagues on Thursday to reconsider a deal with the U.S. to cut tariffs on U.S. lobster, arguing his patience has worn thin waiting for the Trump administration to match the bloc’s de-escalation efforts.

The European Union has provided “feedback” on a U.S. proposal to scrap tariffs on a slew of European products if Airbus offers substantial foreign aid repayments, a European Commission spokesperson told Inside U.S. Trade.

“We're focused on getting trade deals that protect and advance the interests of our farmers & consumers. If a deal isn’t the right one, we will walk away.”

The World Trade Organization on Tuesday announced the European Union will be able to impose tariffs on up to $4 billion worth of U.S. goods in retaliation for subsidies provided to Boeing, prompting an immediate pledge from the U.S. to respond if the EU imposes tariffs.

The next round of trade talks between the U.S. and the United Kingdom will be critical for efforts to outline a roadmap the next administration can use to pick up where negotiators leave off, according to BritishAmerican Business’ director of policy and trade, Emanuel Adam.

The World Trade Organization will hold an informal heads of delegations meeting on Thursday to name the final two director-general candidates, according to a Geneva-based trade official.

"Without a successor … disruption of transatlantic data transfers will have significant adverse effects on U.S. consumers, businesses, and economic growth.”