The goal is to reduce or eliminate unnecessary divergences in regulatory measures that may impede trade in goods in the transatlantic marketplace, and to identify existing or emerging sectors that may benefit from transatlantic regulatory cooperation. The European Union is the nation's largest trading partner, accounting for 19 percent of U.S. merchandise exports in 2010.
Comments received will serve as a basis for discussion with the European Union on regulatory cooperation activities that would support the National Export Initiative (NEI) and the U.S.-EU High-Level Regulatory Cooperation Forum. Under the NEI, President Barack Obama has set the goal of doubling U.S. exports in five years, an increase that would support the creation of two million American jobs.
According to the original May 3 Federal Register notice, transatlantic trade may be impeded because countries apply different standards or technical requirements to address common environmental, health, safety, or other concerns with respect to certain products or product categories. Stakeholders are requested to assist the Administration in identifying opportunities for U.S.-EU cooperation to reduce or eliminate these divergences in regulatory measures impeding transatlantic trade.
Comments may be submitted via www.regulations.gov under docket ITA-2011-0006. All comments and recommendations submitted in response to this notice will be made available to the public.