One of the following initiatives by European policymakers and the US government was the creation in 1995 of a businessmen`s interest group, the Transatlantic Economic Dialogue (TABD) by authorities on both sides of the Atlantic; 1998, the creation of an advisory committee, the Transatlantic Economic Partnership; 2007, the creation of the Transatlantic Economic Council, in which business representatives from both sides of the Atlantic meet to advise the European Commission and the US government – and finally, in 2011, the creation of a high-level expert group whose 11 the conclusions presented on 22 February 2013 recommended the opening of negotiations for a far-reaching free trade agreement. On February 12, 2013, in his annual State of the Union address, President Barack Obama called for such an agreement.  The next day, the President of the European Commission, Jose Manuel Barroso, announced that discussions would take place on the negotiation of the agreement.   Total bilateral trade between the European Union and the United States amounted to nearly $1.3 trillion in 2018, with merchandise trade accounting for $807 billion. The US exported $319 billion worth of goods to EU member states. California`s exports to the EU amounted to $31.75 billion in 2018. California is a major exporting country to the EU, with computers, electronics, transportation equipment and chemicals as the state`s main export sectors to the region. EU countries buy about 18% of all California exports. For California companies, the single market is a stable market with great opportunities….