12 Oct

Trade Agreement Us And Eu

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. [27] The next day, the President of the European Commission, Jose Manuel Barroso, announced that discussions would take place on the negotiation of the agreement. [28] [29] 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….

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