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Europe and the United States are set to launch trade talks early next year to deepen the world's largest trading relationship, EU and U.S. officials say, potentially unleashing billions of euros of new transatlantic business.
Together, the bloc and the United States account for about half the world's economic output and nearly a third of world trade. But a debt crisis in Europe and elusive American growth are pushing both sides to consider knocking down the final barriers to trade.
A deal could increase economic output by 122 billion euros ($158 billion) a year for Europe alone and add 0.52 percent to the EU's gross domestic product in the long term, according to European Commission estimates, benefiting industries ranging from chemicals to automakers.
I think the EU should agree to Canada's free trade Deal that is already on the table and a Ready to be signed deal first.
Just see how that Goes before the U.S. and EU agree to one.
I mean heck atleast we can take some Risks up here in Land of ice and snow and if it turns out to be bad it wil save the EU and U.S. markets from feeling the brunt of any possilbe negative effects of the inital Risk of doing a free trade deal
If the EU wants to expand deeper into the North American Economy....Then Canada can atleast take a bit more of Finacial Risk/Burden without our CDN Economy without going down and making it hard on the everyone Involved.
Well here we are in 2013, October , and Canada and the 22 nation E.U. have just SIGNED a historic free trade agreement. That means that once again, Canada has made a massive international deal that the USA couldn't or wouldn't do.
For those that don't know, the European Union is made up of 22 nations, and their combined population is about 500 Million people, or one and a half times the population of the USA.
Canada has once again shown that we are more than willing to trade with other nations, and perhaps start to slow down our trade with the USA. Being too involved with just ONE trading partner is a bad idea, especially when that biggest trading partner is so far in debt, as the USA is. By expanding our ability to trade with a wider range of countries, we are protecting our economic future, as an independent nation.
Of course, the trade will flow in TWO directions, both to Europe, and to Canada, as well. This will open up our ability to bid on and win building and supply contracts in Europe, which will help our employment and balance of trade numbers. For just one example, BMW, Rover, VW, and Mercedes will be able to export cars to Canada with no import duty, and we will be able to do the same thing. Canadian agricultural exports will have 500 million new potential customers, and we will have a new duty free market for our lumber, newsprint, and mineral resources.
In my opinion, the Americans have been left behind, and this deal will enable Canada and the EU to establish a two way trade flow that will benefit both of them.
I find it interesting that main stream US media have, so far, at least, failed to make the connection about how their country has failed to act to make them a more competitive nation. Check your local US newspaper, for any mention of this news story ?
Well here we are in 2013, October , and Canada and the 22 nation E.U. have just SIGNED a historic free trade agreement. That means that once again, Canada has made a massive international deal that the USA couldn't or wouldn't do.
For those that don't know, the European Union is made up of 22 nations, and their combined population is about 500 Million people, or one and a half times the population of the USA.
Canada has once again shown that we are more than willing to trade with other nations, and perhaps start to slow down our trade with the USA. Being too involved with just ONE trading partner is a bad idea, especially when that biggest trading partner is so far in debt, as the USA is. By expanding our ability to trade with a wider range of countries, we are protecting our economic future, as an independent nation.
Of course, the trade will flow in TWO directions, both to Europe, and to Canada, as well. This will open up our ability to bid on and win building and supply contracts in Europe, which will help our employment and balance of trade numbers. For just one example, BMW, Rover, VW, and Mercedes will be able to export cars to Canada with no import duty, and we will be able to do the same thing. Canadian agricultural exports will have 500 million new potential customers, and we will have a new duty free market for our lumber, newsprint, and mineral resources.
In my opinion, the Americans have been left behind, and this deal will enable Canada and the EU to establish a two way trade flow that will benefit both of them.
I find it interesting that main stream US media have, so far, at least, failed to make the connection about how their country has failed to act to make them a more competitive nation. Check your local US newspaper, for any mention of this news story ?
Jim B
Toronto.
More competitive? What are you talking about??? In all honesty, the EU couldn't give a rats ass about Canada. It's interest is with the US which dies want a trade deal with the EU. The issue is that there is a million other things going on here and US economic agreements are a tad more complex that those with Canada.
Trade agreements are not just about limiting import duty Oh, and there are not 500 million "new customers" in the EU just because the population is that.
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Oh, and there are not 500 million "new customers" in the EU just because the population is that.