Investment Partnership

By Carl Bildt *

In 2015, the US had a trade policy that tried to fashion the global trade system of the future.

You have served two mandates as the elected member of the Executive Committee of AmChams in Europe*, what is your estimate of the future trade potential between America and the EU? 

After two important visits to India and Russia, President Recep Tayyip Erdoğan's planned destinations for next week are China on May 14-15 and the United States on May 16-17. Then he will visit Brussels to attend a NATO summit. In Brussels, a high-level meeting with the European Union is also likely.

The European Commissioner for Trade Cecilia Malmstrom said she expected a suspension of talks between the US and the EU on the Transatlantic Trade and Investment Partnership (TTIP), Friday, following the election of Donald Trump as US President. “Now there is a newly elected President. We do not know what exactly will happen.

For once, Greece could not be blamed for scuppering a major agreement in Brussels. Nevertheless, there is much for Greeks to ponder following the collapse last Friday of the European Union's efforts to clinch the Comprehensive Economic and Trade Agreement (CETA) with Canada.

With spats over Apple and Deutsche Bank and squabbles about Airbus and Boeing, approaching elections on both sides of the Atlantic are exacerbating strains in U.S.-European economic relations.

A halt to trade talks between the European Union and the United States is now likely, French Trade Minister Matthias Fekl said on May 3.

Negotiators have been battling to reach a deal before President Barack Obama leaves office in January but points of contention remain, ranging from food safety standards to support for small business.

Deputy Prime Minister Mehmet ?im?ek has said the full membership process to the European Union was Turkey's most crucial strategic target, while speaking at the High-Level EU-Turkey Economic Dialogue meeting in Istanbul on April 25.

Negotiations on a US-EU free trade deal "will fail" if the US refuses to make concessions, German Economy Minister Sigmar Gabriel warned on April 24 ahead of a visit by US President Barack Obama.

Europe and the United States should wrap up a U.S.-European free trade deal this year or people will start thinking it might never happen, U.S. Trade Representative Michael Froman told a German newspaper.