February 14, 2013
European Union and U.S. to pursue transatlantic free-trade deal (Associated Press, February 14, 2013)
Posted by Orrin Judd at February 14, 2013 3:07 PMThe European Union and the United States announced that they will pursue talks aimed at achieving an overarching transatlantic free-trade deal.The 27-country EU said Wednesday that such an agreement, first announced in the State of the Union address by President Obama, would be the biggest bilateral trade deal ever negotiated. Any agreement could boost economic output in the EU by 0.5% and in the U.S. by 0.7%, according to some estimates. That would be a highly desirable outcome when the EU and the U.S. are both struggling with slow growth, high unemployment and high levels of debt.