(Worthy News) - U.S. and European Union trade negotiators will meet in Washington, D.C., this week to keep the ball rolling on talks first started back in July to reduce nontariffs barriers between the two. Progress may be announced on some minor issues, but other broader agreements are unlikely until next month at least.
"Both sides are still in the realm of figuring out what is reasonable to discuss," an official at a top U.S. trade group told the Washington Examiner. "There is a lot of political pressure on both sides to generate some near-term outcomes. What those near-term outcomes will look like is anybody's guess."
Relations between the U.S. and EU have been bumpy, with President Trump recently threatening 25 percent tariffs on European auto and auto parts imports and the EU also angry over steel and aluminum tariffs set up by the White House. In July, however, Trump and European Commission President Jean-Claude Juncker made a surprise announcement to work toward easing trade relations. The two leaders established an executive working group with the aim of eliminating all tariffs, barriers, and subsidies that currently harm businesses and consumers in the U.S. and Europe. [ Source: Washington Examiner (Read More...) ]