Presentation on theme: "U.S. AND E.U. FTA POSSIBILITY OR PIPEDREAM?. OVERVIEW -United States and the European Union -Why FTA? -Hurdles to a deal -State of the Union -Conclusion."— Presentation transcript:
U.S. AND E.U. FTA POSSIBILITY OR PIPEDREAM?
OVERVIEW -United States and the European Union -Why FTA? -Hurdles to a deal -State of the Union -Conclusion -Thoughts? Questions?
THE US AND THE EUROPEAN UNION - Interaction between the US and EU account for $4 trillion in trade, investment, and commercial sales. -Trade between the 2 regions already accounts for between 40% and 50% of Global GDP (depending on the source). -Currently secures 15 million jobs - ex: US investments in France and Belgium alone in 2010 were as high as in India and China combined. -A study by Swedens National Board of Trade said trade between the two sides could jump 20% - upwards of $200 billion annually- if an agressive trade deal were enacted.
WHY FTA? -With a dead Doha Round, it gives the US and EU an opportunity to expand trade. -Eliminating existing tariffs would boost two-way trade by $120 billion within five years and and $180 billion the U.S. and E.U combined GDP. -Would add 1.5 percent to 2 percent combined to U.S. and European output. -More Jobs!
HURDLES TO A DEAL -Agriculture -Food Safety -Environment -Automobiles -Licensing Standards -Labor Standards -Etc. etc. etc…
STATE OF THE UNION Tonight, Im announcing that we will launch talks on a comprehensive Transatlantic Trade and Investment Partnership with the European Union, because trade that is fair and free across the Atlantic supports millions of good-paying American jobs.
CONCLUSION -While a deal may be possible, and desired by many involved parties, inability to compromise on few key issues may stall a deal -Both parties WILL have to compromise on some pieces of a deal if we are to see a Trans-Atlantic trade agreement -Obama has placed a high priority on this issue, but even with the weight of the executive behind the issue, a deal will be a slow, arduous process