US Senate Grassley says sees a chance of 'getting some results' in trade talks with EU
|US senate Grassley says sees a chance of 'getting some results' in trade talks with EU as a result of new EU trade commissioner's approach. Grassley says expects US to negotiate with EU on aircraft subsidies issue once WTO rules on EU case against Boeing.
The Trump administration would face resistance from the US Congress if it tried to push through a mini trade deal with the European Union that did not include agriculture, US Senate Finance Committee Chairman Chuck Grassley said on Wednesday, reported by Reuters.
In an interview with Reuters, Grassley, a Republican from the farm state of Iowa, said he saw a chance of getting some results in negotiations with the European Union under the leadership of its new trade commissioner, Phil Hogan.
He said Washington would be willing to negotiate a solution to a longstanding dispute over aircraft subsidies after the World Trade Organization ruled on the EU’s case against Boeing Co (BA.N) this year, which meant that higher tariffs on Airbus (AIR.PA) planes and parts would likely take effect on March 18 as planned.
FX implications
There has been a strong bid in the euro, collecting the unwind of the carry trade in higher-yielding EM-FX plays and a hefty emergency rate cut in the Federal Reserve's interest rate decision on Tuesday.
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