Potentially more important than abolishing tariffs, but also much more complicated, would be a deal that harmonized regulations on products like food, cars, toys and pharmaceuticals. Automobile manufacturers would like to see agreement on safety and emissions standards for cars, reducing or eliminating the need to build different versions for the American and European markets.
Matthias Wissmann, head of the German Association of the Automotive Industry, said that harmonizing safety features would save several hundred dollars per automobile. Mr. De Gucht, who is expected to lead the talks on the European side, said that a deal could provide vital leverage over emerging powerhouses like China