The US and EU want to launch talks by the end of June to create an ambitious trade alliance that would cover half the world’s economic output and more than a third of all trade flows.
The announcement follows PresidentBarack Obama’s State of the Union addresson Tuesday evening, in which he stated that the US and the EU would open negotiations for a bilateral deal.
José Manuel Barroso, European Commission president, said on Wednesday: “These negotiations will set a standard, not only for our future bilateral trade and investment, including regulatory issues, but also for the development of global trade rules.”
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