EU Signals it’s ready for Trade Talks with U.S

Feb 05, 2013

EU Removes Restrictions on Some U.S. Meat, Hoping to Start Trade Talks

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The European Union (EU) lifted its ban on some U.S meat imports in a gesture to start trade negotiation. The trade talks would account for a third of global trade, if the deal reaches maturity.

The EU dropped the import ban on live pigs and beef washed in lactic acid, as a signal that it’s ready to begin talks on trade. The lifted ban will come into effect Feb. 2013. There is also word that EU may also consider easing restrictions on imports of U.S animal fat, which is used in biofuels.

"The United States had certain preconditions for talks to start. We want to show them that Europe can deliver," said a senior EU diplomat involved in preparing for negotiations.

Despite this effort, the U.S hasn’t publically said if this gesture is enough to pave the way for U.S-EU trade talks to begin.

Currently, import tariffs between the two countries are low. However, the real benefit of a trade deal would be the access to each other’s markets, which would ultimately remove the high costs to smaller companies wishing to export.

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