Trade Agreements Eu Us
For “Trade in services, investment and e-commerce”, a draft text of 7 July 2013 was leaked by the German newspaper Die Zeit in March 2014. The leaked text contains seven chapters. In Chapter 1, Article 1 mentions the general objective of `a better climate for the development of trade and investment`, in particular the `liberalisation of investment and cooperation in the field of electronic commerce`.  Although they tend to make headlines, these disputes currently concern only about 2% of EU-US trade. The Biden campaign did not ask for an opinion on possible trade objectives with the EU. But Biden`s “Made in America” plan promises to create 5 million domestic manufacturing jobs through tax credits and tightened restrictions on what is considered a U.S.-made product. In his campaign papers and public statements, Biden has indicated that he will focus first on national programs and that he will support the middle class. Economic barriers between the EU and the US are relatively low, not only because of the long membership of the World Trade Organisation (WTO), but also because of recent agreements such as the EU-US Open Skies Agreement and the work of the Transatlantic Economic Council. The European Commission says the adoption of a transatlantic trade pact could increase overall trade between the different blocs by 50%.  The economic benefits of a trade agreement were foreseen in the joint report of the White House and the European Commission.  At France`s request, trade in audiovisual services was excluded from the EU`s negotiating mandate.
 The European side insisted that the agreement include a chapter on the regulation of financial services. But the U.S. side, which recently passed the Dodd-Frank Act in this area, opposes it.  U.S. Ambassador to the European Union Anthony L. Gardner denied any connection between the two topics.  Partly due to the economic impact of the pandemic, U.S. imports of several important EU products declined last year, including diamond imports by 68.9 percent, cars by 29.9 percent, and footwear by 18.6 percent compared to 2016, according to Panjiva, a division of S&P Global Market Intelligence that covers international trade and supply chains. . . .