News / Economy

Obama: US to Host First Round of Trade Talks With Europe

Britain's Prime Minister David Cameron (L) welcomes U.S. President Barack Obama on his arrival to the Lough Erne golf resort where the G8 summit is taking place in Enniskillen, Northern Ireland,l June 17, 2013.
Britain's Prime Minister David Cameron (L) welcomes U.S. President Barack Obama on his arrival to the Lough Erne golf resort where the G8 summit is taking place in Enniskillen, Northern Ireland,l June 17, 2013.
TEXT SIZE - +
Kent Klein
— President Barack Obama said next month the United States will host a first round of talks toward a transatlantic free trade agreement. The president made the announcement with European leaders Monday on the first day of the Group of Eight summit in Northern Ireland.

Obama said he will host the talks in Washington, starting the week of July 8.

"Among the things we will discuss here are promoting new growth and jobs on both sides of the Atlantic," he said. "And I am pleased to join these leaders to announce the launch of negotiations on a new trade agreement that will help us do just that."

Obama joined British Prime Minister David Cameron and European Union leaders in saying an eventual agreement on the Transatlantic Trade and Investment Partnership would further ease trade between the world's two largest economies, the United States and the EU.

"It makes up nearly half of global GDP. We trade about a trillion dollars in goods and services each year," Obama said. "We invest nearly $4 trillion in each other's economies. And all that supports about 13 million jobs on both sides of the Atlantic."

Officials on both sides of the Atlantic say the partnership would open markets, encourage investment, eliminate all trade tariffs and reduce bureaucracy.  

Obama's first stop of the trip was in Belfast, where he and his wife Michelle spoke to a group of students about the progress made since the end of Northern Ireland's decades of sectarian violence, and about what still needs to be done.

"If you continue your courageous path toward a permanent peace, and all the social and economic benefits that have come with it, that will not just be good for you, it will be good for this entire island," he said. "It will be good for the United Kingdom. It will be good for Europe. It will be good for the world."

In two days of meetings, the leaders of the United States, Canada, Britain, France, Germany, Italy, Russia and Japan are discussing security issues such as the violence in Syria, in addition to the global economy.

You May Like

Wikipedia Proves Useful for Tracking Flu

Technique gave better results than Center for Disease Control (CDC) and Google’s Flu Trends More

Turkish Law Gives Spy Agency Controversial Powers

Parliament approves legislation to bolster powers of intelligence service, which government claims is necessary to modernize and deal with new threats Turkey faces More

Video Face of American Farmer Changing

Average American farmer is now 58 years old, and farmers 65 and older are the fastest growing segment of the population More

Featured Videos

Your JavaScript is turned off or you have an old version of Adobe's Flash Player. Get the latest Flash player.
Face of American Farmer is Changingi
X
Mike Osborne
April 18, 2014
The average American farmer is now 58 years old, and farmers 65 and older are the fastest growing segment of the population. It’s a troubling trend signaling big changes ahead for American agriculture as aging farmers retire. Reporter Mike Osborne says a new report from the U.S. Census Bureau is suggesting what some of those changes might look like... and why they might not be so troubling.
Video

Video Face of American Farmer is Changing

The average American farmer is now 58 years old, and farmers 65 and older are the fastest growing segment of the population. It’s a troubling trend signaling big changes ahead for American agriculture as aging farmers retire. Reporter Mike Osborne says a new report from the U.S. Census Bureau is suggesting what some of those changes might look like... and why they might not be so troubling.
Video

Video Donetsk Governor: Ukraine Military Assault 'Delicate But Necessary'

Around a dozen state buildings in eastern Ukraine remain in the hands of pro-Russian protesters who are demanding a referendum on self-rule. The governor of the whole Donetsk region is among those forced out by the protesters. He spoke to VOA's Henry Ridgwell from his temporary new office in Donetsk city.
Video

Video Drones May Soon Send Data From High Seas

Drones are usually associated with unmanned flying vehicles, but autonomous watercraft are also becoming useful tools for jobs ranging from scientific exploration to law enforcement to searching for a missing airliner in the Indian Ocean. VOA’s George Putic reports on sea-faring drones.
Video

Video New Earth-Size Planet Found

Not too big, not too small. Not too hot, not too cold. A newly discovered planet looks just right for life as we know it, according to an international group of astronomers. VOA’s Steve Baragona has more.
Video

Video Copts in Diaspora Worry About Future in Egypt

Around 10 percent of Egypt’s population belong to the Coptic faith, making them the largest Christian minority in the Middle East. But they have become targets of violence since the revolution three years ago. With elections scheduled for May and the struggle between the Egyptian military and Islamists continuing, many Copts abroad are deeply worried about the future of their ancient church. VOA religion correspondent Jerome Socolovsky visited a Coptic church outside Washington DC.
Video

Video Critics Say Venezuelan Protests Test Limits of Military's Support

During the two months of deadly anti-government protests that have rocked the oil-rich nation of Venezuela, President Nicolas Maduro has accused the opposition of trying to initiate a coup. Though a small number of military officers have been arrested for allegedly plotting against the government, VOA’s Brian Padden reports the leadership of the armed forces continues to support the president, at least for now.
Video

Video More Millenials Unplug to Embrace Board Games

A big new trend in the U.S. toy industry has more consumers switching off their high-tech gadgets to play with classic toys, like board games. This is especially true among the so-called millenial generation - those born in the 1980's and 90's. Elizabeth Lee has more from an unusual café in Los Angeles, where the new trend is popular and business is booming.
Video

Video Google Buys Drone Company

In its latest purchase of high-tech companies, Google has acquired a manufacturer of solar-powered drones that can stay in the air almost indefinitely, relaying broadband Internet connection to remote areas. It is seen as yet another step in the U.S. based Web giant’s bid to bring Internet to the whole world. VOA’s George Putic reports.
AppleAndroid

World Currencies

EUR
USD
0.7217
JPY
USD
102.17
GBP
USD
0.5949
CAD
USD
1.1009
INR
USD
60.326

Rates may not be current.