Recent Trade News
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U.S. and EU Agree to Launch Ambitious Free-Trade Negotiations in Washington in July
MercoPress Jun 18, 2013
The United States and European Union launched negotiations on one of the world's most ambitious free-trade agreements on Monday, promising thousands of jobs and speedier growth on both sides of the Atlantic.
Such a plan was first considered three decades ago but knocked down by France in the 1990s. Europe has now managed to get Paris onside, opening the way to a deal that could boost the EU and US economies by more than 100 billion dollars a year each.
“This is a once in a generation prize and we are determined to seize it,” said British Prime Minister David Cameron, flanked by US President Barack Obama and the presidents of the European Commission and the European Council at the Group of Eight summit near Enniskillen in Northern Ireland.
The first round of negotiations will take place in Washington on July 8, the White House said in a statement.
The United States and Europe account for almost half of the world's total output and a third of its trade. A free-trade deal therefore holds the prospect of massive economic gains and accompanying jobs.
Read Full Article on MercoPress »