European Union-U.S. Trade and Investment Relations: Key Issues (CRS Report for Congress)
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| Release Date |
Revised April 8, 2008 |
| Report Number |
RL34381 |
| Report Type |
Report |
| Authors |
Raymond J. Ahearn, Foreign Affairs, Defense, and Trade Division; John W. Fischer, Charles B. Goldfarb, and Charles E. Hanrahan, Resources, Science, and Industry Division; Walter W. Eubanks, Government and Finance Division; Janice E. Rubin, American Law Di |
| Source Agency |
Congressional Research Service |
| Older Revisions |
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Summary:
The United States and EU share a huge, dynamic, and mutually beneficial economic relationship. Not only are trade and investment ties between the two partners huge in absolute terms, but the EU share of U.S. global trade and investment flows has remained high and relatively constant over time, despite the rise of Asian trade and investment flows. These robust commercial ties provide consumers on both sides of the Atlantic with major benefits in terms of jobs and access to capital and new technologies. Agreements between the two partners in the past have been critical to making the world trading system more open and efficient. At the same time, the commercial relationship is subject to a number of trade disputes and disagreements that potentially could have adverse political and economic repercussions. [â¦] Congress has taken a strong interest in many of these issues. By both proposing and passing legislation, Congress has supported the efforts of U.S. industrial and agricultural interests to gain better access to EU markets. Congress has pressured the executive branch to take a harder line against the EU in resolving some disputes, but has also cooperated with the Administration in crafting compromise solutions. Primarily through oversight in the second session of the 110th Congress, many Members of Congress can be expected to support efforts to resolve existing disputes and to maintain an equitable sharing of the costs and benefits of the commercial relationship with the EU. This report starts with background information and data on the commercial relationship and then discusses selective issues associated with trade in agricultural products, trade in services, and foreign direct investment. A concluding section assesses prospects for future cooperation and conflict. The report will be updated as events warrant.
