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It’s US election day and for some time I wanted to write a short thread about EU-US trade policy. Here it comes 
There have been a number of reports highlighting the opportunities for more EU-US economic cooperation. The reason for that is the fear of China.
But there is a positive agenda as well that the EU and the US can build upon.
But there is a positive agenda as well that the EU and the US can build upon.
This can be seen in the EU-US economic integration. Some facts:
The EU27 imported 98 products in which 50% of all its imports came from the US. The value of these products was 25.9 bn euros.
The EU27 imported 98 products in which 50% of all its imports came from the US. The value of these products was 25.9 bn euros.
Which are these products? Ordered by value: Nuclear industry, agriculture
(almonds and pistachios), organic chemicals.
(almonds and pistachios), organic chemicals.
The nuclear industry is one where the EU gest a lot from US businesses. This is one of the most sensitive sectors in any country. There must be trust, common standards, and economic specialisation to get so much intra-industry trade in this sector.
Hence – trust is the word for 2021. Trust to rely on each other e.g. medical goods. This trust can be reflected in contracts and agreements.
There are plenty of opportunities for further Transatlantic cooperation to build a positive agenda that goes beyond the shared fears of China.
This thread is partly based on this paper http://bit.ly/3m4ebT5 and some additional numbers are here https://ecipe.org/wp-content/uploads/2020/10/EU-US-Trade-Dependency.pdf
