EU and US Begin Second Round of Trade Talks

November 11, 2013 Share Print 0

The EU and US are to begin a second round of negotiations towards creating the world’s biggest free-trade deal.

Talks on the Transatlantic Trade and Investment Partnership (TTIP) had been set for October, but were postponed because of the US government shutdown.

Relations have become strained after claims that the US listened to German leader Angela Merkel’s mobile calls.

US Secretary of State John Kerry last week urged European leaders not to allow the row to disrupt the talks.

Together the US and EU account for about $30 trillion (£18.7tn) of annual output – almost half the world’s total.

The EU says a deal could bring annual benefits of 119bn euros ($159bn; £99bn) for its 28 member states.

It is hoped that an agreement could be reached by the end of 2014.

via BBC

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Alfonso Esparza

Senior Currency Analyst at Market Pulse

Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.