In the February issue of this publication we published an
article on the Covered Agreement ("the Agreement")
negotiated and entered into by the Obama Administration with the
European Union in January of this year.1 The U.S. and
E.U. announcements of the completion of the Agreement were made
January 13, 2017, one week before the inauguration of President
Trump.2 The Subcommittee on Housing and Insurance of the
House Financial Services Committee held a hearing on the Agreement
on February 16, 2017, and the witnesses at that hearing expressed
divergent views as to the appropriateness of the Agreement, with
some urging the Trump Administration to attempt to re-negotiate the
Agreement. However, based upon recent developments, the Trump
Administration has decided to proceed and implement the Agreement.
This article provides guidance with respect to the implementation
of the Agreement.
