US President Barack Obama discussed a US-EU trade deal at the G-8 Summit in Northern Ireland (photo:dpa)

Tough times ahead in reaching a free trade deal between the US and Europe

Talks about developing a free trade agreement between the European Union and the United States have been on the agenda for more than 20 years. But the chances of reaching agreement are getting more remote because the deal will bring only marginal benefits to the US. But US President Barack Obama also has several domestic political hurdles to jump and a more appealing Asia-Pacific deal to negotiate before agreement with the EU becomes reality.

<i>US President Barack Obama called for a free trade agreement between the United States and the European Union (EU) during the annual State of the Union address to the American Congress in February 2013. World leaders announced at the rece...

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Dr. James Jay Carafano
The US hopes the TPP will eventually become the core of a free trade area for the entire Asia - Pacific, resulting in enormous economic benefit, potentially far outweighing what could be gained from a US-EU deal
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