U.S. and EU Trade Discussion Not Progressing Well
NAFB News Service
via Hoosier Ag Today - Feb 5, 2019
Preliminary trade discussions between Washington and Brussels arenít going well. In fact, Politico says the talks now appear to basically be an effort to not jump into a full-on trade war. That possibilities potentially include new U.S. tariffs being slapped on automobiles. The two sides canít even seem to agree on how the negotiations should proceed. The U.S. wants greater access to Europeís agricultural markets. However, EU officials say that topic is a deal-breaker. They fear potential backlash from the EUís politically powerful bloc of farmers. Brussels wants to get rid of tariffs on the industrial goods it ships to the U.S., including cars. However, President Trump is determined to protect American manufacturing.
Politico says the stalemate over agricultural negotiations appears to be dimming hopes for a comprehensive transatlantic trade deal even before official negotiations get going. To keep the U.S. president at the negotiating table, the EU has agreed to boost U.S. soy imports by allowing the use of crops subsidized for biofuel production. Commerce Secretary Wilbur Ross originally...