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I came across a product that is solid almost exclusively in Europe with no reach or patenting in the USA. Am I able to pursue production and sale of this product in the USA? Do European patents apply to US markets?

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Patents are territorial. A U.S. patent, for example, lets the parent owner control who has the right to make in the U.S, sell in the U.S., import into the U.S. and even use in the U.S. –  George White Jun 5 at 21:22
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Patents are territorial rights. If EP patent is not being filed or protected in US then you are free to do production and sale in US market.

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Not entirely correct. The US patent application may already be filed, just not published yet. Or, the inventor may file within one year in the US. So called "submarine patents" surface suddenly and can be enforced. –  Ron J. Jun 24 at 12:41
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