In a recent interview with German daily Handelsblatt, EU chief trade negotiator, Pedro Lamy, urged the United States to make progress towards removing tariffs on industrial goods, medical patents and agricultural exports before the next round of WTO talks in Mexico this September.
The Cancun talks will represent the half way stage in the so-called Doha round of WTO (World Trade Organisation) negotiations, and though the discussions have hardly been plain sailing, particularly as a result of friction between the EU and the US, Lamy remarked to Handelsblatt that the talks are "on the right track".
Lamy added "after all the bad news in the last 18 months, the trade negotiations will be the first chink of light".
The frosty trade relations between the trans-Atlantic trading blocs have thawed somewhat in recent weeks as lawmakers in the United States work on rival bills that will end 'extraterritorial income exclusion', staving off the EU's threat to impose $4 billion worth of retaliatory tariffs on US firms, a scenario which Lamy no longer sees "as the most probable."
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