EU paves way to set off formal trade talk with United States


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EU paves way to set off formal trade talk with United States

On Thursday, the 11th of April 2019, Countries of European Union, a 27-nation pact excluding Britain considering its devotion to leave the bloc, had been given initial clearance to begin formal trade talk with United States in order to avert another series of trade clash between two of the world’s largest economies, one EU source revealed in terms of anonymity.

The EU Commission, responsible for coordinating trade policies for the 28-member pact of European nations, had been seeking negotiations on two mandates, one to make it easier for the companies to meet EU and US standard and another to slash tariff on industrial goods.

In January 2019, the EU Commission had presented its agendas and gained support from most of the EU members, although France resisted initially, arguing that the agricultural goods should not be featured during the talks and climate change provisions must be included, given EU commission’s agility over environmental protection.

Never the less, had it been included, it would have been a difficult demand considering United States’ withdrawal from the Paris Climate Agreement. Although the two sides had reached a resolution on last July when US President Donald Trump had agreed to pause additional tariffs on EU autos to improve their economic ties, earlier this week the Trump Administration had pronounced its intent to impose additional tariffs on $11 billion worth of European goods apart from the European autos.

Ambassadors of EU nations had agreed to the mandates at an emergency meeting on Thursday (April 11th), however schedule of an EU-US trade talk had not revealed yet, multiple EU sources said.