Time to Breathe New Life into Ties with Europe
February 18, 2013 / Peter Sparding
CNN
This op-ed was originally published on CNN.com. Click here to read the complete article.
CNN -- It was a brief passage in the State of the Union address, but it might well prove to be one of the more consequential. In one short sentence, President Barack Obama informed Congress about his intention to launch negotiations on a Transatlantic Trade and Investment Partnership with the European Union. For decades advocates on both sides of the Atlantic have been arguing for a more comprehensive agreement. Now it finally seems within reach.
The case for closer economic ties across the Atlantic is strong. The United States and Europe remain each other’s most important economic partners, and together are responsible for almost 50 percent of the world’s GDP and 30 percent of global trade. Europe accounts for half of U.S. investments abroad – some $2.1 trillion in 2011 – and remains the most important source of foreign direct investment in the United States. More than 13 million jobs on both sides of the Atlantic are supported by transatlantic trade and investment.
Click here to read the entire article on CNN.com.
Peter Sparding is a Transatlantic Fellow for economic policy at the German Marshall Fund of the United States in Washington, DC.



