Economics
U.S.-EU Trade Talks Progress With Trump Eyeing Congress Approval
- USTR says it will begin fast-track consultations with Congress
- Lighthizer, Malmstrom had constructive meeting, U.S. says
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The Trump administration said it will seek fast-track approval from Congress for a trade deal being negotiated with the European Union, suggesting the two sides are hoping to make substantial changes to their commercial relationship.
The U.S. Trade Representative’s office said Monday it will begin consultations with Congress on a trade deal with Europe under Trade Promotion Authority, a legislative tool that allows the president to seek a simple yes-or-no vote by lawmakers on a final deal. In exchange, the administration must clear a series of hurdles, such as remaining in close consultation with committees in the House and Senate that oversee trade.