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Negotiating With Europe Is Not So Simple, Says Ross

US Commerce Secretary Wilbur Ross says that the United States is finding it difficult to negotiate trade deal with European Union and especially since current president Donald Trump took office in 2016. Mr. Trump has ended the previous transatlantic trade and investment partnership or TTIP and imposed tariffs on steel and aluminum imports from Europe. He has also threatened that further duties will be imposed on cars imported from Europe. Under the circumstances no deals can be made with Europe as they have just finished their parliamentary elections and haven’t selected officials like president and trade commissioner for the EU as yet.

Therefore there is no official figure of importance that US can negotiate with for trade purposes with Europe. During end of May citizens of Europe voted for lawmakers that will represent them in European Parliament that will start functioning from 2nd July. The new chamber will appoint 28 country leaders along with a new president for the European Commission which is the executive arm of EU. The new mandate will be approved by EU president in 1st November. Till then the current team of US will carry out daily activities like discussing trade deals and negotiating them but for meaningful negotiations US has to wait said Mr. Ross.

Trade commissioner of Europe Cecilia Malmstrom had received a mandate from all 28 EU members in April to enter into a deal with United States about industrial goods but as Washington was not willing to start any official round of talks though EU was ready, matters remained in limbo. The biggest motivation for Europe to reach an early deal with United States is to prevent tariffs on carmakers from the region as that sector is responsible for majority of its economic growth. On being asked about a deal with Europe, Ross said that there are chances for working out a deal but it all depends on the President.

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Mark McCarthy

Mark McCarthy

Mark has completed a Masters Degree in Business Administrations. He holds a strong understanding of the business world with about 10 years of presence in the industry. He has been working as an affluent source of knowledge and is a well-known persona in the business sector. He is admired for greatest inputs in his field. He contributes with a unique style of communication in Lincoln Trail Publishing. He loves listening to classical music in his leisure time.