Transatlantic Trade

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? 

Turkey's bilateral economic and trade relations with the United States will fare better than they did over the past four or five years when U.S. President-elect Donald Trump takes office in early 2017, according to the head of the Turkish-American Business Association-U.S. Chamber of Commerce (TABA-AmCham). 

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.

French-speakers in southern Belgium, accounting for less than 1 percent of the 508 million EU consumers likely to be affected by CETA, raised objections that held up the deal until a breakthrough on Oct. 27 that was confirmed by regional parliamentary votes a day later. "All's well that end's well," said European Commission President Jean-Claude Juncker.

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.

Support for the transatlantic trade deal known as TTIP has fallen sharply in Germany and the United States, a survey showed on April 21, days before Germany's Chancellor Angela Merkel and U.S. President Barack Obama meet to try to breathe new life into the pact.