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.