Eu Us Bilateral Trade Agreements

Eu Us Bilateral Trade Agreements

German Vice-Chancellor and Economy Minister Sigmar Gabriel said free trade negotiations between the European Union and the United States had failed due to the lack of progress in one of the major parts of the long negotiations. “In my opinion, the negotiations with the United States have failed de facto, although no one really admits it,” the minister quoted, according to a written copy of an interview broadcast on August 28, 2016. “[They] failed because we Europeans did not want to comply with American demands.” [68] Negotiations were interrupted by President Donald Trump[2] who then triggered a trade dispute with the EU. Trump and the EU declared a ceasefire in July 2018 and resumed talks, which appeared similar to the TTIP. [3] On 15 April 2019, the negotiations were declared “obsolete and more relevant” by the European Commission. [4] In 2018, bilateral trade between the European Union and the United States amounted to nearly $1.3 trillion, with merchandise trade worth $807 billion. The United States exported $319 billion worth of goods to EU member states. California`s exports to the EU totaled $31.75 billion in 2018. California is a leading exporter to the EU, with computers, electronics, transportation and chemicals as the main export sectors of the state to the region. EU countries buy about 18% of all California exports. For Californian companies, the domestic market offers a stable market with great opportunities. In an article in the Wall Street Journal, the Chairman of the Board of Siemens AG (which employs 70% in Europe and 30% in the United States) said that THE TTIP would strengthen the global competitiveness of the United States and the EU by removing trade barriers, improving intellectual property protection and establishing new international “road rules”.

[72] In 2016, Greenpeace published 248 pages of classified information from TTIP trade negotiations. [125] Greenpeace Netherlands said it had published the documents “to ensure the necessary transparency and to stimulate an informed debate on the treaty.” [126] The EU has trade agreements with these countries/regions, but both sides are now negotiating an update.


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