Tech EU News
Transatlantic trade talks in sight
http://www.euronews.com/ The European Union and the United States have agreed to talks on a free trade alliance.
European Commission President Jose Manuel Barroso said they should be able to start discussions by the end of June on bringing down trading barriers.
It would be the most ambitious free trade deal ever attempted, encompassing half the world’s economic output and a third of global trade flows.
Barroso told a news conference: “A future deal between the world’s two most important economic powers will be a game changer. Together, we will form the largest free trade zone in the world. So this negotiation will set a standard, not only for our future bilateral trade and investment, including regulatory issues, but also for development of global trade rules.”
He spoke after President Barack Obama announced US support for the idea during his annual State of the Union address to Congress.
*Tough talks ahead*
The EU estimates such an agreement would boost its annual GDP growth by half a percent, however
the EU Trade Commissioner Karel De Gucht warned the talks will be tough.
Import tariffs between the two are already low – at an average of four percent.
Negotiations will focus on harmonising standards, from car seat belts to household cleaning products, and regulations governing services.
Ideally, De Gucht said, the negotiations should be wrapped up in two years.
Before talks can start, the US Congress must be notified and the European Commission needs approval from EU member states. It will present draft negotiating directives in March, no doubt prompting debate.
*How they gonna see this down on the farm?*
One of the key sticking points is likely to be agriculture.
When a transatlantic trade deal was suggested in 1998, it was shot down by France, which feared the European Union could be forced into concessions on agricultural trade.
The United States has long been frustrated with EU restrictions on US farm products such as genetically modified (GMO) crops, poultry treated with chlorine washes and meat from animals fed with the growth stimulant ractopamine.
In an early sign of EU reticence, Barroso said the negotiations would not compromise consumer health.
“We will not negotiate changes that we do not want of the basic rules on either side, be it on hormones or GMOs,” he said.
The United States does not want a repeat of the Doha round of world trade talks, which began in 2001 and have never come to a conclusion.
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@rafalpilat145
February 21, 2024 at 7:53 pm
yep.mine too. 😀
@Uhmu
February 21, 2024 at 7:53 pm
I am eating them, but hat has that to do with free trade?
@DarknesSoldier
February 21, 2024 at 7:53 pm
Yeah, 1970s. I guess people don't change right? You know being a young adult and all. Still not that experienced, or educated.
Still, you didn't answer my question:
So, which policies could be described as 'communistic' or 'maoist' that Barroso enacted?
@ChrisRoadWarrior
February 21, 2024 at 7:53 pm
"Free trade between Canada & America is good for American businesses but bad for Canada"
How do you explain US Unemployment is 7.9% (4 years after the blamed-by-all "bad" Bush became a private citizen) but Canada's is 7%?
Yes I know, govts (CDA and USA) with fundamentally different economical views, one pro-free market and business (CDA) another for more govt public spending and higher taxes (USA) but still NAFTA plays a major role in the smooth commercial activity btwn both countries.
@DarknesSoldier
February 21, 2024 at 7:53 pm
Which enacted policies by Barroso could be described as 'maoist'?
I suggest you do some research, but not on godlessproductions, or other conspiratard websites. You know, on websites, which have information that can be verified.
@DarknesSoldier
February 21, 2024 at 7:53 pm
"YOU IDIOT!!! LOOK AT ME!! I'M RELEVANT!"
@Uhmu
February 21, 2024 at 7:53 pm
He is a conservative right winger. The majority party in the EU parliament usually gets their candidate as the leader of the commission.
@Uhmu
February 21, 2024 at 7:53 pm
How do you define bad, US gave away low end jobs and gets back cheap consumer goods from Asia.
@Uhmu
February 21, 2024 at 7:53 pm
There are up and downsides to free trade zones but in the long run they are defiantly beneficial to almost everyone. Take the limited trade liberalization in north america, the NAFTA agreement, it created some short term unbalances, but now as Mexico is becoming a more medium and high income country, the greater trade benefits everyone.
@DarknesSoldier
February 21, 2024 at 7:53 pm
Did you forget to take your meds again, conspiratard?
@DarknesSoldier
February 21, 2024 at 7:53 pm
I don't think that you know how long negotiations for FTA's take.
@charlessmyth
February 21, 2024 at 7:53 pm
That'll be plenty of time for the UK to negotiate its way out of the EU 🙂
@BATMAN-rz7xs
February 21, 2024 at 7:53 pm
Canada and mexico will also be included since we already have a north america trade agremant.
@Uhmu
February 21, 2024 at 7:53 pm
Fuck yeah. It's not only good for trade, it would be good for my wallet!
@oelergodt
February 21, 2024 at 7:53 pm
I SO hope this is gonna happen!