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.
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

Arrested Football Officials Come Mainly From the Americas

US Justice Department alleges defendants participated in 24-year scheme to enrich themselves through corruption of international soccer More

Video Kenyans Lament Al-Shabab's Recruitment of Youths

VOA travels to Isiolo, where residents share their fears, struggles to get loved ones back from Somalia-based militant group More

This US Epidemic Keeps Getting Worse

One in 4 Americans suffers from this condition More

Featured Videos

Your JavaScript is turned off or you have an old version of Adobe's Flash Player. Get the latest Flash player.
A Small Oasis on Kabul's Outskirts Provides Relief From Security Tensionsi
X
May 26, 2015 11:11 PM
When people in Kabul want to get away from the city and relax, many choose Qargha Lake, a small resort on the outskirts of Kabul. Ayesha Tanzeem visited and talked with people about the precious oasis.
Video

Video A Small Oasis on Kabul's Outskirts Provides Relief From Security Tensions

When people in Kabul want to get away from the city and relax, many choose Qargha Lake, a small resort on the outskirts of Kabul. Ayesha Tanzeem visited and talked with people about the precious oasis.
Video

Video Film Festival Looks at Indigenous Peoples, Culture Conflict

A recent Los Angeles film festival highlighted the plight of people caught between two cultures. Mike O'Sullivan has more on the the Garifuna International Film Festival, a Los Angeles forum created by a woman from Central America who wants the world to know more about her culture.
Video

Video Kenyans Lament Losing Sons to al-Shabab

There is agony, fear and lost hope in the Kenyan town of Isiolo, a key target of a new al-Shabab recruitment drive. VOA's Mohammed Yusuf visits Isiolo to speak with families and at least one man who says he was a recruiter.
Video

Video Scientists Say Plankton More Important Than Previously Thought

Tiny ocean creatures called plankton are mostly thought of as food for whales and other large marine animals, but a four-year global study discovered, among other things, that plankton are a major source of oxygen on our planet. VOA’s George Putic reports.
Video

Video US-led Coalition Gives Some Weapons to Iraqi Troops

In a video released Tuesday from the Iraqi Ministry of Defense, Iraqi forces and U.S.-led coalition troops survey a cache of weapons supplied to help Iraq liberate Mosul from Islamic State group. According to a statement provided with the video, the ministry and the U.S.-led coaltion troops have started ''supplying the 16th army division with medium and light weapons in preparation to liberate Mosul and nearby areas from Da'esh (Arabic acronym for Islamic State group).''
Video

Video Amnesty International: 'Overwhelming Evidence' of War Crimes in Ukraine

Human rights group Amnesty International says there is overwhelming evidence of ongoing war crimes in Ukraine, despite a tentative cease-fire with pro-Russian rebels. Researchers interviewed more than 30 prisoners from both sides of the conflict and all but one said they were tortured. Henry Ridgwell reports for VOA from London.
Video

Video Washington Parade Honors Those Killed Serving in US Military

Every year, on the last Monday in the month of May, millions of Americans honor the memories of those killed while serving in the armed forces. Memorial Day is a tradition that dates back to the 19th Century. While many people celebrate the federal holiday with a barbecue and a day off from work, for those who’ve served in the military, it’s a special day to remember those who made the ultimate sacrifice. Arash Arabasadi reports for VOA from Washington.
Video

Video Kenya’s Capital Sees Rise in Shisha Parlors

In Kenya, the smoking of shisha, a type of flavored tobacco, is the latest craze. Patrons are flocking to shisha parlors to smoke and socialize. But the practice can be addictive and harmful, though many dabblers may not realize the dangers, according to a new review. Lenny Ruvaga has more on the story for VOA from Nairobi, Kenya.
Video

Video Rolling Thunder Run Reveals Changed Attitudes Towards Vietnam War

For many US war veterans, the Memorial Day holiday is an opportunity to look back at a divisive conflict in the nation’s history and to remember those who did not make it home.
Video

Video Female American Soldiers: Healing Through Filmmaking

According to the United States Defense Department, there are more than 200-thousand women serving in the U.S. Armed Forces.  Like their male counterparts, females have experiences that can be very traumatic.  VOA's Bernard Shusman tells us about a program that is helping some American women in the military heal through filmmaking.

VOA Blogs

World Currencies

EUR
USD
0.9152
JPY
USD
122.70
GBP
USD
0.6494
CAD
USD
1.2374
INR
USD
63.925

Rates may not be current.