European leaders welcomed the proposal to negotiate free trade agreements across the Atlantic by U.S. President Barack Obama, announced during the annual speech on the federal state 17-2.
In his speech, President Obama said: “I am pleased to announce we will start negotiations on a comprehensive partnership in trade and investment with the European Union (EU), because free trade free and fair between the two sides of the Atlantic to support millions of jobs for Americans. ”
EU and U.S. will begin formal negotiations on May 6-2013. Although it took several years to take effect, but the agreement could open a new chapter in relations between the U.S. and the EU.
President of the European Commission (EC) Jose Manuel Barroso said the agreement will create the largest free trade area in the world, created thousands of jobs on both sides of the Atlantic. In addition, the agreement between the two most important economic power the world will have the effect of global change.
EC’s chief trade negotiator Karel de Gucht hopes the agreement will be signed in the next two years. He said the negotiations would start talking about tax cuts. Then, they will try to link regulatory systems around common standards of safety and product. Mr De Gucht told more if EU in the same position with the U.S. standards, these standards are more likely to become the global standard, it is very important for the EU industry.
Proposal was warmly received by some members of Congress and the U.S. business community. Fred Irwin said of the American Chamber of Commerce in Germany for 30 years, European officials still want the free trade agreement. Accordingly, the free trade area is formed will eliminate tariffs and encourage trade between the EU and the U.S..
However, there are doubts about the United States. Two senior U.S. senators in the Senate Commerce Committee wrote a letter to U.S. Trade Representative remind any agreement should also comfortable for farmers to access the European market. Besides, the agreement can not undermine the standards of the U.S. and have copyright protection. In addition, the U.S. and the EU is still no agreement on GM crops. The two sides need to settle things out before signing a free trade agreement. /.