1、 https:/crsreports.congress.gov Updated December 21, 2021U.S.-EU Trade and Economic RelationsThe United States and the European Union (EU) have a highly integrated economic relationship. They remain each others largest overall trade and investment partners (see Figure 1), despite the economic challe
2、nges posed by the Coronavirus Disease 2019 (COVID-19) pandemic, the United Kingdoms withdrawal from the EU in 2020, and Chinas growing role as a trading partner for each. Over the years, the United States and the EU have sought to further liberalize their trade and investment ties, enhance regulator
3、y cooperation, and work together on global issues, including through the World Trade Organization (WTO). Figure 1. U.S. Trade and Investment with the EU Source: CRS, with data from U.S. Bureau of Economic Analysis. Selected Developments U.S. and EU trade policies are largely aligned on many fronts,
4、but frictions emerge periodically on specific issues. Many observers agreed that bilateral trade relations were especially fraught during the Trump Administration. The Biden Administration has pledged “to repair and revitalize the U.S.-EU partnership.” Recent developments include efforts to resolve
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