From the Document: "On October 16, 2018, the Trump Administration notified Congress under Trade Promotion Authority (TPA) of new U.S. trade negotiations with the European Union (EU), the United States' largest trading partner [...]. The transatlantic economy is massive and highly integrated, but still features tariffs and nontariff barriers (NTBs) to trade and investment. U.S.-EU negotiations on a Transatlantic Trade and Investment Partnership (T-TIP) stalled after 15 rounds under the Obama Administration. The proposal for new talks followed a July 2018 U.S.-EU Joint Statement aiming to deescalate trade tensions. The new talks have not formally started, and their outlook is uncertain. Congress may seek to monitor and shape the trade negotiations, and could consider implementing legislation for a potential final free trade agreement (FTA)."
CRS In Focus, IF11209
Congressional Research Service: https://crsreports.congress.gov/