EU & US Free Trade Agreement

02 May 2014

EU & US Free Trade Agreement

The fifth round of EU-US trade talks will take place from 19-23 May 2014 in Virginia. The EU has set up this site to keep businesses informed of developments.

The Transatlantic Trade & Investment Partnership (TIIP) aims to remove trade barriers in a wide range of sectors and make it easier to buy and sell goods and services between the EU and US. The agreement could bring significant economic benefits of €119bn per annum to the EU and €95bn per annum to the US.

Reducing non-tariff barriers will be a key part of the TIIP. As much as 80% of the total gains come from cutting costs imposed by bureaucracy and regulations. The various scenarios presented envisage a reduction in duty rates to 0% on products originating in the US or EU.

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