U.S.-European Union Trade Relations: Issues and Policy Challenges [Updated May 12, 2003] [open pdf - 101KB]
"Resolution of U.S.-EU 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 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 tax breaks for U.S. exporters; (2) resolving longstanding trade disputes involving protection for domestic producers of airplanes and steel; (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."
CRS Issue Brief for Congress, IB10087
U.S. Dept. of State, Foreign Press Centers: http://fpc.state.gov/