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Transatlantic Trade: US and Europe - Week of December 14, 2020

Transatlantic Trade: US and Europe - Week of December 14, 2020
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Transatlantic Trade Updates: COVID-Vaccine, Brexit & Cyberattack

Tuesday, December 22, 2020 The United States (US) approved its second COVID-19 vaccine by Moderna this week, ramping up its initial vaccine distribution and inoculations in America.  Meanwhile, the European Union (EU) decided to expedite its vaccine approval process and is now on track to authorize the Pfizer/BioNTech and Moderna vaccines before the end of the month. Talks between the United Kingdom (UK) and EU continued this past week.  While some progress was noted, a significant breakthrough remains elusive.  If a deal is reached in the coming days, accelerated ratification by both the European Parliament and the UK Parliament will be necessary before the UK’s formal exit from the customs union and single market on 31 December.

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