U.S.-EU Trade and Economic Relations (CRS Report for Congress)
| Release Date |
Revised June 9, 2023 |
| Report Number |
IF10931 |
| Report Type |
In Focus |
| Authors |
Shayerah Ilias Akhtar |
| Source Agency |
Congressional Research Service |
| Older Revisions |
-
Premium Revised Dec. 21, 2021 (3 pages, $24.95)
add
-
Premium Revised Aug. 28, 2019 (2 pages, $24.95)
add
-
Premium Revised Aug. 1, 2018 (2 pages, $24.95)
add
-
Premium July 20, 2018 (2 pages, $24.95)
add
|
Summary:
The United States and European Union (EU) are each
other’s largest trade and investment partners. (For more
information, see CRS In Focus IF10930, U.S.-EU Trade
and Investment Ties: Magnitude and Scope, by Shayerah
Ilias Akhtar.) Their ties are deep, but some barriers to trade
and investment remain. The trading relationship is largely
harmonious, but frictions emerge periodically due to the
high level of commercial activity and specific policy issues.
U.S.-EU trade and economic relations face heightened
tension currently, amid the Trump Administration’s trade
policy, which is focusing on unilateral tariff measures under
U.S. trade law and taking a critical view of the U.S. role in
international economic cooperation. Given U.S.-EU
historical joint leadership on global trade and economic
issues, these developments could have implications for the
rules-based international trading system, a foundation of the
global economic order that has contributed to global
economic growth and stability in the post-World War II era.
