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Transatlantic Trade: US and Europe - Week of December 7, 2020

Last week, the United Kingdom (UK) moved forward with its first inoculations of the approved Pfizer/BioNTech COVID-19 vaccine. The United States (US) approved the Pfizer/BioNTech vaccine on Friday, 11 December, and will begin inoculations this coming week. The European Union (EU) continues to stress safety over speed in its vaccine approval process and has yet to follow suit. The UK sealed the deal on a number of Free Trade Agreements, while talks with the EU continue without any significant breakthroughs. Meanwhile, the UK and EU are also preparing for a possible hard exit scenario. This past week, Poland and Hungary reached a compromise with the EU on the custom union’s Budget and Recovery Fund, which will allow funds to flow at the start of the new year. The 116th US Congress, meanwhile, continues negotiations over a new COVID relief package, amid other priorities before adjourning.

December 7, 2020: Transatlantic Trade: US and Europe

Tuesday, December 15, 2020 Last week, the United Kingdom (UK) moved forward with its first inoculations of the approved Pfizer/BioNTech COVID-19 vaccine.  The United States (US) approved the Pfizer/BioNTech vaccine on Friday, 11 December, and will begin inoculations this coming week.  The European Union (EU) continues to stress safety over speed in its vaccine approval process and has yet to follow suit. The UK sealed the deal on a number of Free Trade Agreements, while talks with the EU continue without any significant breakthroughs.  Meanwhile, the UK and EU are also preparing for a possible hard exit scenario. This past week, Poland and Hungary reached a compromise with the EU on the custom union’s Budget and Recovery Fund, which will allow funds to flow at the start of the new year.  The 116th US Congress, meanwhile, continues negotiations over a new COVID relief package, amid other priorities before adjourning. 

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