The EU ‘s Trade Commissioner said there was a “big difference between compromising and giving in” following the latest talks between the European bloc and the U.S. regarding a trans-Atlantic trade deal.
Trade Commissioner Karel De Gucht spoke to CNBC following two days of meetings with his U.S. counterpart, Michael Froman, in Washington, D.C.
De Gucht and Froman discussed the progress of the long-awaited trans-Atlantic Trade and Investment Partnership (TIIP) deal, which would unite two economic blocs which account for almost half the world economy and more than a third of global trade.
Responding to fears that an eventual deal might mean the EU would weaken existing regulatory standards, De Gucht told CNBC that the EU would not give in.
“You can make compromises that are win-win situations,” De Gucht said. “I can reassure that we are not going to change the basic legislation and regulation in Europe; we are not going to do that.”
This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.