MNI: EU Looks At Moves To Buy More From U.S., Boost Investment

EU officials are preparing a so-called “non-paper” exploring areas where the bloc could consider further concessions to the U.S. in order to sweeten its zero-for-zero tariff offer on industrial goods, which has produced little progress in trade talks, EU sources told MNI, adding that American officials have still to make clear what they want.

Sources said the document will moot general ideas for trade-facilitation measures, rather than making concrete promises for increasing purchases of U.S. goods, an area in which the EU has no competence outside emergency situations. 

Another proposed sweetener is boosting EU investments in the U.S., which could include energy-intensive manufacturing sectors where cheaper U.S. fuel prices provide a competitive edge, or in pharma, although sources note that this idea also faces challenges, given the EU's focus on its own goal of strategic autonomy.        

EU officials continue to complain that that the main problem they still face in the talks is the failure of the U.S. to make clear what concessions or goals it is seeking or prioritising in the negotiations.   (See MNI: EU Countries See US Shift In Tone But Trade Deal Unlikely)

"The EU is therefore very careful to offer anything very concrete, fearing that it will not be sufficient or that the U.S. will respond with fresh demands,” one source said.

With EU Trade Commissioner Maros Sefcovic travelling to Japan next week, any progress in the talks seems unlikely until the following week. EU trade ministers will also meet in Brussels on May 15 to discuss the state of the talks.