Manufacturers outline priorities for a US-EU free-trade deal

“Proposals to adopt burdensome non-commercial standards — from labor and privacy, to environmental and non-risk based regulations — would not only stall the negotiations, they would undermine the ability to create the economic growth both our economies seek.”

{mosads}Last week, the White House sent notice to Congress that it will officially begin talks with the 27-nation European Union. Negotiations could last upward of two years. 

Timmons also makes an argument for moving forward quickly with renewing trade promotion authority as an avenue to getting a globally example-setting trade deal. 

“U.S. export growth slowed over the past year, and the answer is access to new markets and removing trade barriers,” said David Hoover, chairman of NAM’s international economic policy committee. “Trade agreements have a proven track record of success, as exports to just our 20 free trade agreement partners accounted for nearly half of U.S.-manufactured goods exports last year.”

The NAM backs with the High Level Working Group’s call for a comprehensive agreement that addresses a broad range of bilateral trade and investment issues that will put the economies on both sides of the Atlantic in a stronger economic position. 

“A comprehensive trade agreement between the United States and EU would be very beneficial to manufacturers in creating additional opportunities and further developing the economic relationship between the world’s largest trading partners,” said Greg Walters, chairman of NAM’s U.S.-EU Task Force.

“An ambitious agreement will drive economic growth, lower existing barriers and serve as a model for the rest of the globe to follow.”