Prospective US-EU Free Trade Deal “Tremendous” Opportunity – Frank Samolis

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    DC Partner Frank Samolis was a guest on the BBC World Service’sBusiness Daily” July 26. In the radio segment regarding free trade between the United States and the European Union, Mr. Samolis claimed that countries have been left to form their own bilateral agreements as a result of the World Trade Organization’s (WTO) moribund state. “The process for achieving multilateral trade agreements fell apart in 2000 at the beginning of the Doha rounds so, without any indication of progress on a multilateral agreement, countries and regions are all crafting individual, bilateral regional agreements,” Mr. Samolis told host Edward Butler. He noted that while we will likely see some bipartisan cooperation on approving a trade deal between the two trade blocs, members of Congress may, however, take the opportunity to insert various hurdles and protectionist provisions when crafting the extension of the necessary fast-track negotiating authority legislation that would make the agreement less attractive. The deal would require at least a few years of negotiation, Mr. Samolis noted, but would be a “tremendous way for trade to expand for both entities.”

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