EU Trade Commissioner Discusses US Europe Trade Pact

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.”

via CNBC

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Alfonso Esparza

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.
Alfonso Esparza