MNI BRIEF:US Deal May Need No Lengthy Ratification-EU Official

The weekend’s EU-US trade deal may not need to be implemented in a full- fledged international agreement, potentially making a politically fraught and lengthy EU ratification process unnecessary, a senior European Commission official said on Monday. 

"This is not your standard trade agreement," the official said, adding that the EU can turn to so-called “autonomous legal instruments” to fast track the framework deal and said that an international agreement, which might normally take years, would "not be the first choice. 

On the U.S. side, 15% tariffs on most EU exports is expected to be implemented by Executive Order on Aug 1, when a joint EU-US statement is also expected to be issued. Officials said work would continue this week to finalise key elements of that statement. (See MNI INTERVIEW: Trade Retaliation To Make Job Harder For ECB)