Tag: EU international relations

The “Renaissance” of the EU-US Trade Relationship: Tensions and Progress in a Fast-Moving Digital World

Giulio Kowalski

The EU-US trade partnership is the largest bilateral trade and investment relationship between the largest economies in the world (the EU economy accounts for 25.1% of global GDP and the US one represents 21.6%). Although bilateral, the EU-US trade partnership heavily impacts the global economy given that the EU or the US (or both) are the most important business partners for most countries worldwide. Furthermore, although the role of China as the EU’s import source for goods has greatly expanded in the last years, the US remains the EU’s largest trade and investment partner.

After the tensions characterizing the “Trump era” (e.g., US tariffs imposed on EU steel and aluminium recently suspended for a two-year period), the EU-US partnership on trade seems to be experiencing its “Renaissance”. The new Biden administration may provide a chance for a renovated transatlantic partnership, centred on cooperation over global challenges such as climate change and the concerns originating from the digitalisation of the economy. With regard to the latter issue, the EU-US Trade and Technology Council (EU-US TTC), established in June 2021 following an EU-US Summit, proves the improvement in the EU-US relation. In particular, one of the Council’s main goals is to strengthen the EU-US global cooperation on technology, digital issues and supply chains. The summit served to reiterate the EU-US commitment over the reform of the WTO’s negotiating function and dispute settlement system. Nonetheless, as will be extensively illustrated in the following, tensions do not seem to have been dispelled completely (e.g., the suspension of aluminium and steel tariffs is only temporary).
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New Book: Framing Convergence with the Global Legal Order: The EU and the World

Elaine Fahey

The new book, Framing Convergence with the Global Order: The EU and the World, edited by Professor Elaine Fahey, Jean Monnet Chair in Law and Transatlantic Relations at the University of London’s City Law School, explores EU convergence in the global order, drawing on a range of disciplines to illuminate the themes of global convergence and the EU’s role in a turbulent international environment.  The contributors find that, although the EU remains a driving force behind a rules-based international order, the methodology of depicting complex case studies remains contestable.   Continue reading

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