U.S.-EU Trade Talks Shafted Amid Government Shutdown

Oct 07, 2013

By Amanda Brodhagen, Farms.com

The partial U.S. government shutdown is heading into week two, with no end in sight. The shutdown has led to the cancelation of the second round of U.S.-EU trade talks. United States trade representatives were to arrive in Brussels Monday, with talks scheduled to last a week.

Partial shutdown was prompted last week after Congress failed to reach a deal on the budget. It is an ongoing battle between Democrats and Republicans. Time is ticking as an agreement needs to be reached by Oct. 17, the date when the U.S. is due to default on its debt repayments.

While the trade talks are wide-ranging, the cancelation is especially a big blow for the U.S. agriculture sector, which is faced with prolonged market access to the EU and burdened with no sign of a renewed Farm Bill.

EU’s commission trade chair Karel de Gucht released a statement calling the situation “unfortunate,” but said the cancellation will not distract from the aim of reaching a deal between the EU and the U.S. There are no signs of when the trade talks will be rescheduled.

Video: Finding a Balance of Innovation and Regulation - Dr. Peter Facchini

Regulations help markets and industry exist on level playing fields, keeping consumers safe and innovation from going too far. However, incredibly strict regulations can stunt innovation and cause entire industries to wither away. Dr. Peter James Facchini brings his perspective on how existing regulations have slowed the advancement of medical developments within Canada. Given the international concern of opium poppy’s illicit potential, Health Canada must abide by this global policy. But with modern technology pushing the development of many pharmaceuticals to being grown via fermentation, is it time to reconsider the rules?

Dr. Peter James Facchini leads research into the metabolic biochemistry in opium poppy at the University of Calgary. For more than 30 years, his work has contributed to the increased availability of benzylisoquinoline alkaloid biosynthetic genes to assist in the creation of morphine for pharmaceutical use. Dr. Facchini completed his B.Sc. and Ph.D. in Biological Sciences at the University of Toronto before completing Postdoctoral Fellowships in Biochemistry at the University of Kentucky in 1992 & Université de Montréal in 1995.