The document discusses EU-US trade and its significance. It played an important role in bringing former enemies like the US, Germany, and France together and helped build up Western Europe economically against the Soviet bloc. Together, the EU and US economies make up 40% of the world GDP. The document outlines the framework of EU-US trade including organizations like NATO, WTO, and OECD that are involved. It provides statistics on trade volumes and discusses the future Transatlantic Trade and Investment Partnership aimed at reducing trade barriers between the EU and US.

1. EU-US TRADE

3. Significance
 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
economy

4. 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
development.
 Intra-industry trade on advanced technologies and services

5. 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.

6. Facts and Figures of Trade

7.  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.
Imports)
 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
countries).

9. Future prospects of Economic ties
o Transatlantic Trade and Investment
Partnership (TTIP)
• Objectives
 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
standards

10. Conclusion
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.