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As reported by Reuters, the EU’s Trade Commissioner Cecilia Malmstrom is cooling off any expectations of a rapid progression to US-EU trade negotiations, noting that the dialogue between the two mega-economies is still in the “exploratory” phase.

Key highlights

Malmstrom noted on Monday that talks between the EU and the US remain in an exploratory stage, and getting down to the hard details of a limited trade agreement between the two are not going to begin until a trade meeting slated for early November.

While at a United Nations General Assembly, Malmstrom noted that the two sides will be focusing on facilitating sales of US liquified natural gas, or LNG, within Europe, while also looking at making reductions to regulatory barriers on trade, though the EU trade commissioner was careful to not highlight any particular barriers they will be looking at.

“We’re still in that exploratory phase. We haven’t started any negotiations yet. People are talking to each other and we will have a new meeting in November,” Malmstrom said. – Reuters