EU-US trade played an important role in
bringing close the former enemies US,
Germans and France.
It helped to build Western Europe into an
economic fortification against the Soviet Bloc.
A net positive economic impact on the world
Framework of EU-US Trade
U.S.-EU economic relations exist within a framework of
economic, political, and security factors.
The U.S.-EU combined economic benefits dominates the
world economy(combined GDP=40% of world GDP).
EU countries and US are roughly equivalent in economic
Intra-industry trade on advanced technologies and services
PastAreas of Economic Cooperation
NATO (22 EU countries) deal with a number of
issues that pertain to foreign trade
WTO and GATT play critical role in EU-U.S.
bilateral economic framework
To lesser extent OECD is also an important
element in the U.S.-EU framework
EU-US policies and practises are another
element of the bilateral economic framework.
EU is the largest merchandise trading partner
of U.S ($265.1 billion of total U.S. exports (or
17.1%) and for $380.8 billion of total U.S.
U.S is the largest non-EU trading partner of
the EU (17.1% of total exports to non-EU
countries, while EU imports from the U.S was
11.4% of total imports from non-EU
Future prospects of Economic ties
o Transatlantic Trade and Investment
Reaching a reasonable and balanced trade agreement
between the EU and US to eliminate customs duties.
Making progress towards mutual recognition of EU / US
product standards or working towards transatlantic
Foreign trade and investment data depict
strong, interdependent, and significant U.S.-
EU bilateral economic relationship. But at the
same time brings some challenges as well
(agricultural and agricultural-related
products).Therefore U.S. and EU policy
makers, have the to manage the increasingly
complex bilateral economic relationship in
ways that maximize benefits and keep
frictions to a minimum.