POLICY BRIEF – No. 04/2024 - Calling on the EU-US Trade and Technology Council:

The initiative aims to increase the number of European and US conformity The increase in the number of conformity assessment bodies authorized to test and assessment bodies is expected to reduce certify EU and US machinery and electri- the costs and the time required to demon- cal equipment for exports into each other’s strate conformity. [...] both the EU and the US, the implementation of an EU-US agreement on conformity An agreement on conformity assessment assessment would not only improve between the EU and the US covering conditions for transatlantic trade but also green goods and clean technologies lead to reduced trade dependence for the could increase transatlantic exports EU and the US on China. [...] While this increase in exports on machinery and electrical equipment is significant, broadening the scope of due to the agreement could lower Chinese the agreement to include the entirety exports to the EU and the US by between of machinery and electrical equipment, US$ 6.5 billion and US$ 19.4 billion. [...] 7  7 5 percent represents the share of bilateral trade between the EU and the US of green goods belonging to product categories 84 and 85 over the bilateral trade between the EU and the US of all green goods. [...] 04/2024 2.2 T he Rise of China in Machinery and Electrical Equipment One of the most prominent shifts in the transatlantic market of machinery and electrical equipment over the past two decades has been the rise of China as a leading supplier of these products to the EU and the US.