Europeâs New Trade Agenda (CRS Report for Congress)
| Release Date |
Revised July 31, 2008 |
| Report Number |
RS22547 |
| Report Type |
Report |
| Authors |
Raymond J. Ahearn, Foreign Affairs, Defense, and Trade Division |
| Source Agency |
Congressional Research Service |
| Older Revisions |
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Summary:
Soon after the Doha Round of multilateral trade negotiations came to a standstill in July 2006, the European Union (EU) announced its intention to enter into more bilateral and regional free trade agreements (FTAs). While the EU historically has been a leading force for preferential trade agreements, its main priority from 2001-2006 was negotiating an ambitious Doha Round agreement. Given that the EU is a global economic superpower, its resumption of a bilateral and preferential trade strategy has implications for the global trading system, as well as for U.S. trade interests. As articulated in an October 2006 report, the EU will prioritize FTAs with regions and countries according to their economic potential rather than on development aims. The July 2008 breakdown of the Doha negotiations may reinforce this approach. This report summarizes the EU's new initiative, casts the initiative in historical perspective, and assesses the implications of this shift for the global trading system and for U.S. interests. This report will be updated as events warrant. See also CRS Report RL30608, EU-U.S. Economic Ties: Framework, Scope, and Magnitude, by William H. Cooper.
