The recent meeting of President Trump and President Juncker set increased EU imports of American commodities and a reduction in bilateral duties as major objectives for ongoing trade negotiations. The latter could require the formulation of a wide-ranging trade-in-goods FTA. While unlikely to be as complex as the now defunct TTIP it would still involve protracted negotiations. On the basis of average WTO-posted most-favored nation tariffs EU exports to the U.S. paid $7.3 billion of duties while U.S. exports to the EU were charged $7.9 billion in the past 12 months. Unsurprisingly autos l...