ABSTRACT

U.S.-European Union Trade Relations: Issues and Policy Challenges [Updated March 21, 2003]   [open pdf - 101KB]

"The September 11, 2001 terrorist attacks gave new momentum to European Union (EU) initiatives to "The United States and European Union (EU) share a huge and mutually beneficial economic partnership. Not only is the U.S.-EU trade and investment relationship the largest in the world, it is arguably the most important. Agreement between the two economic superpowers has been critical to making the world trading system more open and efficient. [...] Resolution of U.S.-EU trade disputes has become increasingly difficult in recent years. Part of the problem may be due to the fact that the U.S. and the EU are of roughly equal economic strength and neither side has the ability to impose concessions on the other. Another factor may be that many bilateral disputes now involve clashes in domestic values, priorities, and regulatory systems where the international rules of the road are inadequate to provide a sound basis for effective and timely dispute resolution. [...] The major U.S.-EU trade and investment policy challenges can be grouped into six categories: (1) avoiding a 'big ticket' trade dispute associated with steel or the tax breaks for U.S. exporters; (2) resolving longstanding trade disputes involving aerospace production subsidies and beef hormones; (3) dealing with different public concerns over new technologies and new industries (4) fostering a receptive climate for mergers and acquisitions; (5) strengthening the multilateral trading system; and (6) reaching understandings on foreign policy sanctions that have a trade impact."

Report Number:
CRS Issue Brief for Congress, IB10087
Author:
Publisher:
Date:
2003-03-21
Series:
Copyright:
Public Domain
Retrieved From:
U.S. Dept. of State, Foreign Press Centers: http://fpc.state.gov/
Format:
pdf
Media Type:
application/pdf
URL:
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