Trade is the name of the game for both the EU and US to beat unemployment

The U.S. economic relationship with the EU is the largest and most complex in the world, generating goods and services trade flows of about $2.7 billion a day [2012 estimate] and transatlantic investment is directly responsible for roughly 6.8 million jobs [2010 estimate].  This enormous volume of transatlantic trade and investment promotes economic prosperity on both sides of the Atlantic 

As an example, just take the state of Maine, even though other regions such as Asia often grab the limelight when Mainers discuss global markets, Europe remains vitally important for Maine's economy.  

In 2011, Maine companies sold over $400 million in goods and services to European customers, ranking the EU-27 as Maine’s third largest export market after Canada and Malaysia.  In addition, European companies are the second largest source of foreign investment in Maine, employing thousands of Mainers in their businesses.  

The EU and US recently began formal talks on a far fedging and employment creating "Super Trans-Atlantic-Trade-Deal ",  which will have a profound influence on global trading rules.

The magnitude of this endeavor is illustrated by the fact that both economies represent one-half of world production, with trade among themselves amounting to one-third of all world trade. 

Tariff reduction won't be the most complex issue in these negotiations, because average tariffs are already low, at around 3 percent. Rather, the complexity of the negotiations resides in the abolition of non-tariff trade barriers, such as subsidies to agriculture, or in the conciliation of environmental or antitrust regulations. 

Even so, the objective is to complete the negotiations by the end of 2014. 

EU-Digest