The United States' trade policy and possible negotiations on a free trade agreement with the European Union (EU) will not get in motion anytime soon, as they are not a key priority for the current US administration, say analysts of the US conservative public policy research centre Heritage Foundation.
TTIP
© Shutterstock nuotr.

"If we are talking about one day or one year I don't see anything happening. I don't think given the rhetoric of the campaign that there is an imperative for the president to come up with new trade agreements. Except for some bilateral ones," David Kreutzer, senior foreign trade expert at the center, told Lithuanian journalists.

In his opinion, US President Donald Trump has lately been focusing on bilateral trade contracts, however, they will be narrow and suited for one sector or a specific company.

Meanwhile, the center's senior trade policy analyst Bryan Riley said that the EU should look at the ongoing talks among the United States, Canada and Mexico on revision of the terms and conditions of the trilateral North American Free Trade Agreement (NAFTA) to understand the future guidelines of US trade policies.

"I would pay close attention to the NAFTA negotiations and see if there are things that would be potentially problematic from Europe's perspective or aligning with how Europe would like to see a trade agreement going in the near future (…) Some of the markers that we are putting down in negotiations are not necessarily related to NAFTA. I think it's to make this a base for future trade agreements," said Riley.

The US-EU free trade agreement has been coordinated since 2013, however, the Transatlantic Trade and Investment Partnership ( TTIP ) was basically frozen after Trump was inaugurated as US president at the beginning of this year.

TTIP has earlier been stalled due to various objections in Europe and the US amid fears of its possible negative impact on European health and environmental standards.

----------

Part of the costs of the BNS journalist's trip to Washington D.C. was covered by the Lithuanian Foreign Ministry. This has no impact on the content of the story.

BNS
It is prohibited to copy and republish the text of this publication without a written permission from UAB „BNS“.
Leave a comment
or for anonymous commenting click here
By posting, you agree to terms
Read comments Read comments

Oro Navigacija starts rebranding of its image by changing its logo

While undergoing the process of modernisation, the strategic company Oro Navigacija, whose mission is...

Nine percent increase in flight number in Lithuanian airspace

During ten months of this year, air traffic controllers handled 227.5 thousand flights in Lithuanian...

Survey: every eighth person in Lithuania has private health insurance

The results of a survey conducted in Lithuania showed that every eighth person has been ensured by...

Baltic States seek a single regional assessment

Ministers of finance of Lithuania, Latvia and Estonia, the European Commission and NASDAQ appealed...

LMT presents three digital service innovations at Baltic Mobile Congress

LMT (Latvian Mobile Telephone) is the telecommunications market leader in Latvia and a digital service...