Senate Passes CARES Act, House To Vote Soon

In the late evening hours on Wednesday, by a unanimous vote of 96-0, the U.S. Senate passed the Coronavirus Aid, Relief and Economic Security Act (CARES Act), a $2 trillion package to blunt the impact of the COVID-19 pandemic on American families and businesses. AIADA released a statement lauding the Senate's passage of the legislation and urging quick action in the U.S. House of Representatives. The House is expected to vote on the package soon and the president is expected to sign it shortly thereafter.

COVID-19 Halts US-EU Discussions, Trade to Continue

A planned visit next week by European Union Trade Commissioner Phil Hogan was canceled as the coronavirus (COVID-19) outbreak worsened around the world and the U.S. announced a plan to suspend travel from the E.U. beginning late tonight and lasting for at least 30 days.

Mini Trade Deal with EU Increasingly Unlikely

E.U. Trade Commissioner Phil Hogan will be back in Washington in mid-March, but it is increasingly unlikely the U.S. and E.U. could reach any kind of mini trade deal by March 18, as had been floated by Hogan in February. Little progress appears to be being made as the two sides continue to disagree over the scope of the talks, and especially whether agriculture will be included. Despite that, European Commission President Ursula von der Leyen struck a positive note yesterday, saying that there she believed there was "momentum" for U.S. – E.U. trade relations to improve.

U.S. - E.U. Trade Talks Languishing

U.S. Trade Representative (USTR) Robert Lighthizer traveled to London this week for initial discussions with his British counterpart on a U.S.-U.K. trade deal. The trip comes at a time when momentum for a deal between the U.S. and the European Union seems to be waning. E.U. representatives had previously said that they hoped to secure a "mini" trade deal with the U.S. by March 18, believed to be an effort to stave off increased or new tariffs on European goods, including autos.