Us France Trade Agreements

In November, the Trump administration tacitly authorized a deadline for the imposition of tariffs on European cars. In the meantime, many trade experts have concluded that the administration could not legally impose these rights without opening a new investigation into European business practices. France and the United States, in addition to their strong political relations, have deep economic relations that are mutually beneficial. These trade and investment flows support growth, employment and innovation in both countries. According to Trump, the United States has been treated “very badly for many years” in Europe`s trade, although it has spent a lot of money to protect Europe through the organization of the North Atlantic Treaty. In a previous meeting with Ursula von der Leyen, the new president of the European Commission, Trump congratulated von der Leyen as a tough negotiator. He acknowledged that governments have been talking about a trade agreement for some time, “and I hope we can do something.” In 2013, France was the United States` eighth largest merchandise trading partner, with $32 billion in U.S. merchandise exports to France and $45 billion in imports from France. The United States is the largest French buyer of goods outside the European Union. The aerospace sector accounts for nearly 25% of bilateral merchandise trade, which has weakened the interconnected global supply chains of major aircraft manufacturers on both sides of the Atlantic. France and the United States are also important trading partners in the services sector: services exports to the United States to France reached $15.1 billion in the first nine months of 2013 and services imports from France reached $11.7 billion during the same period. The United States and France are negotiating their membership of the European Union through a Transatlantic Trade and Investment Partnership (T-TIP). The United States is working to deepen economic relations with Europe through an ambitious and comprehensive agreement.

3/ Each U.S. state participates in these trade flows, with differences that reflect their economic weight and sectoral specializations. California is the largest exporter of goods to France, followed by Texas, mainly because of its energy industry, while New York and New Jersey are the main importers of goods from France. Similarly, the regions of Ile-de-France (Paris region), Auvergne-Rhéne-Alpes (Lyon region) and Occitanie (southwest) are particularly involved in this relationship – the last because of their aviation industry. The U.S. Department of Commerce and the French Department of Economy and Treasury have agreed to establish an “economic trade dialogue between the United States and France” to improve bilateral cooperation and increase trade and investment. The dialogue aims to facilitate the exchange of information and encourage bilateral discussions to find ways to promote jobs and growth in both countries and improve competitiveness through innovation and entrepreneurship.