EU Eyes Closer U.S. Ties Regulating Sectors From Cars to Drugs

(Bloomberg) -- The European Union is weighing closer regulatory ties with the U.S. for industries including pharmaceuticals, medical devices and marine equipment, part of a push for a market-opening accord to keep the threat of American automotive tariffs at bay.

The EU is also considering stronger trans-Atlantic cooperation on standards for new technologies including for cars, according to a document drafted by the European Commission, the bloc’s executive arm in Brussels.

The paper outlines ways to carry forward part of a deal in July between U.S. President Donald Trump and commission chief Jean-Claude Juncker that put on hold possible U.S. auto duties based on the same national-security grounds the White House used to impose controversial levies on foreign steel and aluminum. In addition to greater cooperation over regulation and standards, the two leaders pledged a push to eliminate tariffs on industrial goods.

“The case for EU and U.S. engagement on regulatory issues has always been strong,” says the paper seen on Friday by Bloomberg News. “The process of globalization has sharpened our mutual interest in avoiding fragmented regulatory solutions to address similar societal challenges.”