Baucus, Hatch outline priorities for a US-EU trade deal

They also said they will ramp up their efforts to renew Trade Promotion Authority (TPA), which will allow for the consideration and completion of any future trade deals, including one between the U.S. and Europe and the Trans-Pacific Partnership (TPP), which is expected to be completed this year. 

Fast-track authority expired in 2007.

U.S. and European leaders have expressed strong interest in forging a formal trade partnership and are still working toward getting to a point where they can start negotiations. The two groups make up more than half of the world’s gross domestic product. 

President Obama could highlight the need for the trade deal in his State of the Union address Tuesday evening as an avenue toward greater economic growth. 

The lawmakers specifically pointed to barriers on agricultural market access, including the EU’s restrictions on genetically engineered crops, a ban on the use of hormones in cattle, restrictions on pathogen reduction treatments in poultry, pork and beef, unscientific restrictions on the use of safe feed additives such as ractopamine in beef and pork.

“We urge you to resolve these and other unwarranted agricultural barriers as part of the FTA negotiations on both an individual and a systemic basis,” they wrote. 

They also urged U.S. trade officials to look at the EU’s policies on geographical indications — which allow the use of the name of a specific region on a product if the product comes from there, such as champagne from the Champagne region of France. U.S. firms say the rules impede competition. 

They also argued that it is essential to ensure that any outcome of this agreement does not undermine the ability of the U.S. to achieve high levels of intellectual protection in other negotiations and other foreign markets. 

“A high-standard, comprehensive, U.S.-EU FTA could serve to reinvigorate the global trade agenda, setting the standard for all FTAs to follow,” the lawmakers wrote. 

“While there are numerous challenges to be addressed, it is our hope that the framework we have outlined above provides useful guidance as you negotiate the path forward.”

Tags

Copyright 2024 Nexstar Media Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed..

 

Main Area Top ↴

Testing Homepage Widget

 

Main Area Middle ↴
Main Area Bottom ↴

Most Popular

Load more

Video

See all Video