EU-US trade relations after President Trump Laura Puccio 27/11/2017

Introduction US new trade agenda: Protectionist pressures and trade defence measures Shift from multilateral, plurilateral and regional agreements to bilateral TTIP has been on hold TiSA, EGA de facto on hold Multilateral negotiations in view of MC11 difficult EU-US trade relations 24/11/2018

Small but important areas of progress in EU-US relations The Privacy Shield Importance of transatlantic digital economy 2570 organisations have self-certified and are considered active US seems committed to make the Privacy Shield function The Privacy Shield has implications beyond the EU: EEA and Switzerland Article 29 WP has requested to tackle some open questions Two regulatory agreements were adopted The Mutual Recognition Agreement (MRA) on Good Manufacturing Practices (GMP) The Bilateral Agreement between the European Union and the United States of America on Prudential Measures regarding Insurance and Reinsurance EU- US trade relations 24/11/2018

Challenges Difficult cooperation in multilateral and plurilateral negotiations US opposition to the ministerial declaration US has been relatively unengaged in ongoing negotiations (fisheries, public stockholding) Blocking of the appointments to the WTO Appellate Body EU, US and China Market Economy Status US Trade Defence Measures investigations targeting EU MS + section 232 of the Trade Expansion Act Product Instrument Case Status Initiation Countries investigated Forged steel fittings Anti-Dumping Investigation 12 October 2017  Italy  Ripe Olives 12 July 2017  Spain  Countervailing Citric Acid 23 June 2017  Belgium  Residential washers Safeguard 05 June 2017  European Union Solar cells 17 May 2017  mechanical tubing 10 May 2017  Germany , Italy  wire rod 17 April 2017  Spain , Italy , United Kingdom Presentation Title 24/11/2018

The Possible Scenarios TTIP resumed Importance of trade flows between the EU and US with respect to trade in goods, services and investments; rationale for a comprehensive agreement Divergences and main interests Other variables that could influence the decision on TTIP: Brexit and TiSA ‘Reduced’ TTIP (very unlikely) conclusion of regulatory agreements (with or without TiSA resumed) Reuse the progress obtained on regulatory cooperation to issue stand-alone agreements on some regulatory issues (like in the case of Pharmaceuticals) Stakeholders pressures Existing MRA and regulatory chapters in TTIP No new agreement negotiated focus is on trade defence monitoring EU-US trade relations 24/11/2018