State of the Union: Five key takeaways from Ursula Von der Leyen
17 September 2020
Key points from von der Leyen's state of the union speech [caption id="attachment_14822" align="alignnone" width="640"]...
GRTU welcomes US President Obama's
clear commitment to a comprehensive Transatlantic Trade and Investment
Partnership. We count on both sides' responsibilities to advocate free trade
policy as an indispensable tool to promoting growth and welfare worldwide.
that respect, the EU should seek the closest possible economic integration and
regulatory cooperation with the US, while insisting on the need to not question
the overall priority attached to the conclusion of the multilateral WTO Doha
In times of economic weakness and
uncertainty, facilitating trade is key to promoting growth on both sides of the
Atlantic. Hence, it is absolutely essential to remove the remaining trade
barriers between the world's most important trade giants. GRTU also welcomes
the final report of the High-Level Working Group on Jobs and Growth that pleads
for an ambitious and comprehensive trade agreement between the European Union
and the United States.
In addition to some tariff-related
issues, the commerce sector is highly affected by regulatory barriers. Free
trade negotiations could provide an additional opportunity to enhance
consistency in customs clearance procedures between both regions, but also to
ensure consumer protection and environmental and quality standards between the
EU and US. Mutual recognition of the high standards already in place within
each region would encourage trade between the EU and US.
from US President Barack Obama, Council President Herman Van Rompuy and
Commission President José Manuel Barroso
Leaders of the United States and the European Union, are pleased to announce
that, based on recommendations from the U.S.-EU High
Level Working Group on Jobs and Growth co-chaired by
United States Trade Representative Kirk and European Trade Commissioner De
Gucht, the United States and the European Union will each initiate the internal
procedures necessary to launch negotiations on a Transatlantic Trade and Investment
transatlantic economic relationship is already the world's largest, accounting
for half of global economic output and nearly one trillion dollars in goods and
services trade, and supporting millions of jobs on both sides of the Atlantic.
committed to making this relationship an even stronger driver of our
prosperity. In that regard, we welcome the High Level Working Group's
recommendations on how we can expand further our transatlantic trade and
investment partnership, promoting greater growth and supporting more jobs.
high-standard Transatlantic Trade and Investment Partnership would advance
trade and investment liberalization and address regulatory and other non-tariff
this negotiation, the United States and the European Union will have the
opportunity not only to expand trade and investment across the Atlantic, but
also to contribute to the development of global rules that can strengthen the
multilateral trading system."
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