The Transatlantic Economic Partnership is an important driver of global economic growth, trade and prosperity and is the largest, most integrated and longest-running regional economic relationship in the world. The many reasons to support this relationship are from an economic, geopolitical point of view, from a perspective of benefits for companies, as well as regulatory cooperation and a perspective of technological innovation. Total bilateral trade between the European Union and the United States amounted to nearly $1.3 trillion in 2018, with merchandise trade accounting for $807 billion. The US exported $319 billion worth of goods to EU member states. California`s exports to the EU amounted to $31.75 billion in 2018. California is a major exporting country to the EU, with computers, electronics, transportation equipment and chemicals as the state`s main export sectors to the region. EU countries buy about 18% of all California exports. For California companies, the single market is a stable market with great opportunities. In October 2018, President Trump announced his intention to begin trade negotiations with three new markets, one of which is the EU.
President Trump`s goal is to open up new markets for American farmers and businesses, where they currently face significant barriers. • the establishment of compatible regulatory systems in key sectors to address regulatory disparities that unnecessarily limit trade; Turkey has signed bilateral and multilateral agreements: in line with ECJ directives, the EU is now developing free trade agreements to ensure that they remain the exclusive competence of the EU. Therefore, areas such as investor-state dispute settlement and portfolio investments need to be negotiated in separate agreements. This clear division of areas into different agreements makes it possible to ratify and enforce free trade agreements quickly and reliably by European legislators. Such a separation is not possible, however, if trade agreements are an integral part of political association agreements (e.g. B with Ukraine, Mexico, Mercosur, etc.). These treaties remain mixed, if only because of the elements of foreign and security policy (the EU`s negotiations with Mercosur are based on a 20-year-old mandate and do not involve investor-state dispute settlement). . .