There is a very promising possibility that a free trade agreement between the U.S. and Europe may be coming soon. While the U.S. and Europe are already on fairly agreeable trading terms, this has the potential to make trading between the two countries even better. Thus far; it was said that no one seems to believe that its a bad idea, and it has been talked about for some time now. However, because the two countries already trade well, they have been busy making agreements with other growing countries instead. Now it seems that it will finally be a serious topic that will make progress, and is coming closer to reality than every before.
Even though having a free trade agreement will help both the U.S. and Europe, deciding on the terms and conditions of a free trade agreement, and getting the majority to agree on a position is not easy. The trade agreement between the two countries is going to take time. Some markets are worried that the free trade agreement will leave them out; for instance some of the agriculture groups in the U.S. are not allowed to export genetically altered corn or soy products or sell cheese with the name Parmesan, to Europe. However, everyone cannot always be made happy, and the free trade agreement will help many. The two countries are hoping that it will help to stimulate the economies.
As we discussed in class, free trade is a good thing for the majority. Having free trade between Europe and the U.S. will make trading even easier, and it will help the economies, especially since free trade doesn't cost taxpayers anything. This is something that Europe and the U.S. should really work to get passed, and put into practice. There are sure to be many grateful businesses as well as individuals whom will benefit from this new agreement.
http://www.nytimes.com/2012/11/26/business/global/trade-deal-between-us-europe-may-pick-up-steam.html?pagewanted=2
ReplyDeleteIt is a very good topic. In the original article, it said the E.U.-U.S. free-trade agreement could be a cheap way to encourage growth between the European Union and the United States, which are already each other’s biggest overseas trading partners. So Mr. Obama was urged to push for a free-trade agreement by European leaders, corporations, and business groups on both sides of the Atlantic. The Europeans hope that the E.U.-U.S free trade would help the economic growth since the economics of Europe went down because of European sovereign debt crisis.
The trade between the U.S. and Europe is a great thing for U.S. since Europe are a bigger country importing goods from the U.S., and has a greater trade than China in the early this year. However, complexity of regulatory issues makes agreement difficult to reach, and it would take very long.
And I believe that free trade also will hurt Europe and the U.S. in some certain situation. Further, the U.S. and Europe economic are more risky and sensitive to each other’s economics
s as they are tied closer. Is free trade good for them, we need to take it seriously
Ofcourse free trade will end up hurting a certain party and in most cases the party that was enjoying most before the agreement would be set in place. But the role of the government is to make sure that the majority is better off, rather than a small group. And if the majority of businesses and people would be better off then they owe it to them to reach an agreement of free trade.
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