EU Lawmakers Edge Closer to Major Trade Agreement

European Union lawmakers are making significant headway toward finalizing legislation that will underpin the EU-U.S. trade agreement, yet obstacles still need resolution, according to Bernd Lange, chair of the EU parliament's trade committee.

The second round of negotiations with EU governments has successfully narrowed differences on key aspects of the proposed rules, including a safeguard mechanism and how the agreement will be reviewed and evaluated.

Further negotiations are scheduled to occur on May 19 in Strasbourg, emphasizing the Parliament's commitment to ensuring that the agreement will ultimately benefit citizens and companies in both the EU and U.S., Lange stated.

(With inputs from agencies.)