President Trump Wants ‘Rapid’ Resolution of Trade Issues With EU

President Trump Wants ‘Rapid’ Resolution of Trade Issues With EU

President Trump Wants ‘Rapid’ Resolution of Trade Issues With EU

Washington is pressing the European Union to move more quickly on trade negotiations launched after last month’s meeting between President Donald Trump and EU Commission President Jean-Claude Juncker.

Emily Haber, Germany’s Ambassador to the United States, told reporters that a working group formed after the Trump-Juncker meeting had convened for the 1st time this week, and US officials were pressing “for very rapid results.”

She said EU officials would need a clear mandate to move beyond the current “scoping exercise” and an agreement would need to be reached well ahead of European Parliament elections in May 2019.

“The Americans are in fact pressing for very rapid results,” Haber said at an event to unveil plans for more than 1,000 events in the United States next year aimed at strengthening bilateral ties.

“As far as the timelines go, I would point out that we have European Parliament elections next year, and an agreement would have to be reached in a timely manner before these elections,” she said.

President Trump agreed during the meeting with Mr. Juncker to refrain from imposing threatened car tariffs on European firms while the 2 sides launched negotiations to cut tariffs on steel, aluminum and other goods.

The surprise agreement eased the threat of a transatlantic trade war, but US officials have grown frustrated about the slow pace of progress in subsequent weeks, with the 1st working group meeting postponed until after European August holidays.

US Treasury Secretary Steven Mnuchin said last month he was hopeful the issue could be resolved “very quickly.”

A European Commission (EC) spokesman confirmed that a meeting of the EU-US working group took place this week but gave no details.

Stefan Mair, a member of the executive board of the BDI German industry group, said some progress was reported at the 1st meeting of the new working group, including on the expected timetable, but gave no details.

“We know The Trump Administration is strongly pressing for short timelines and quicker progress,” Mr. Mair said at the event showcasing ties between Germany and the United States.

“But we insist that this should not happen at the expense of a thorough result because we are interested in seeing an agreement that goes beyond tariffs and looks at more general issues affected business relationships,” he added.

America First!

Have a terrific weekend.

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Paul Ebeling

Paul A. Ebeling, polymath, excels in diverse fields of knowledge. Pattern Recognition Analyst in Equities, Commodities and Foreign Exchange and author of “The Red Roadmaster’s Technical Report” on the US Major Market Indices™, a highly regarded, weekly financial market letter, he is also a philosopher, issuing insights on a wide range of subjects to a following of over 250,000 cohorts. An international audience of opinion makers, business leaders, and global organizations recognizes Ebeling as an expert.

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