Convergence to increase trade and reduce costs (US-EU)
 

Remember how a while back ago I said that it would be a terrific thing if EU and US car regulations were the same, or at least common? Well today at EU and US summit in Washington this will be on agenda along with other 40 items. This will be really good for GM which is trying to gain in European markets through export of Cadillacs and other vehicles. With a weaker dollar, cut in engineering costs for a different market I can really see them being happy about this. Not to mention European car companies not having to go through same back-braking process either.
http://news.bbc.co.uk/2/hi/europe/6607757.stm

Quote, originally posted by BBC »
The two sides will agree to set up an "economic council" to push ahead with regulatory convergence in nearly 40 areas, including intellectual property, financial services, business takeovers and the motor industry.
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Some reports suggest that incompatible regulations in the world's two richest regions add 10% to the cost of developing and producing new cars.

This is pretty good news, especially (I think, anyway) considering the weak dollar, as Roadster mentioned. The Open Skies deal will be good for consumers, and hopefully we will be able to see some tangible benefits in our cars, as well.
It's really important for the EU and US to streamline their economic relations, considering the increasing clout of growing economies like China and India. It's good to see they realize just how much they need each other.