U.S. – EU Trade Relations

Summary:

Bilateral trade and investment ties between the United States and the European Union (EU) are long-standing and extensive, but some tariff and nontariff barriers remain. Successive U.S. Administrations have sought to address barriers that restrict U.S. firms’ access to EU markets and to further liberalize bilateral trade and investment ties, enhance regulatory cooperation, and cooperate on global trade and economic issues of joint interest.

Over the past decades, the United States and the EU have engaged on these issues through various bilateral dialogues, summits, and trade agreement negotiations. These include negotiations on a proposed Transatlantic Trade and Investment Partnership (T-TIP), which, along with other U.S.-EU efforts, have not yielded a comprehensive, final trade agreement, to date. The partners also have engaged on these issues multilaterally, such as in the World Trade Organization (WTO) and other multi-party negotiating fora.

Congress has a broad, enduring interest in understanding U.S.-EU trade relations and the issues underpinning them, given the magnitude of U.S.-EU trade and investment ties, their significance to the U.S. economy overall and specific constituent interests, and their significance to the global marketplace, such as for setting and shaping international rules and standards.

Further information:

This Report was first published in 2022 and subsequently updated. The latest update was published in June 2022. All updates can be checked on the Primary Source link provided below.