Related Keywords: are traded freely with no tariffs, Euratex, European Union, further integrate the two economies, key bilateral trade agreement, process of negotiating TTIP, reduce tariffs benefits, relax other regulatory burdens, such as clothing, tariffs are higher, traditional manufacturers, two biggest economies, United States
The European Union and the United States, two of the biggest economies in the world are going far beyond what has been done previously in any agreement except the EU’s single market. They are in the process of negotiating the Trans-Atlantic Trade and Investment Partnership (TTIP), a key bilateral trade agreement intended to further integrate the two economies.
The two economic entities, which together account for around a third of world trade and half of world GDP, are already deeply integrated.
