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European Parliament votes for restarting US trade talks

European Parliament votes for restarting US trade talks

Mubasher: The European Parliament on Tuesday voted for a resolution that backs trade talks with the US over reducing tariffs for industrial goods in a bid to ease trade tension with Washington.

The European Parliament’s international trade committee voted 21 to 17 on the resolution that will be then be voted on by the full chamber in March, Reuters reported.

In January, two mandates were issued for removing tariffs from industrial goods excluding agricultural commodities and allowing US testing bodies to clear products for sale in the EU and vice versa.

Both mandates will need to be approved by governments in the European Union (EU). 

The EU has focused on lowering tariffs on industrial goods such as machinery and materials, while Washington’s wishes include comprehensive agricultural market access.

Both sides are committed to negotiating the removal of tariffs on non-auto industrial goods after ending a stand-off of several months in July 2018 when US president Donald Trump approved to hold off imposing tariffs on EU auto imports.