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

Video On the Scene: In Gaza, Darkness Brings Dread and Death

Palestinians fear nighttime raids, many feel abandoned by outside world, VOA's Scott Bobb reports More

African Small Farmers Could Be Key to Ending Food Insecurity

Experts say providing access to microloans, crop insurance, better storage facilities, irrigation, road systems and market information could enable greater production More

University of Michigan Wins Solar Car Race

Squad guided its student-designed solar-powered vehicle to fifth consecutive time victory in eight-day bi-annual American Solar Challenge More

Featured Videos

Your JavaScript is turned off or you have an old version of Adobe's Flash Player. Get the latest Flash player.
Vietnamese Staging Chinese Product Boycott After Oil Rig Spati
X
Reasey Poch
July 28, 2014 7:18 PM
China recently pulled an oil rig from an area of the disputed South China Sea that Vietnam also claims. Despite the action, the incident has had a lingering effect on consumers in Vietnam. VOA's Reasey Poch reports from Hanoi on an effort to boycott Chinese products.
Video

Video Vietnamese Staging Chinese Product Boycott After Oil Rig Spat

China recently pulled an oil rig from an area of the disputed South China Sea that Vietnam also claims. Despite the action, the incident has had a lingering effect on consumers in Vietnam. VOA's Reasey Poch reports from Hanoi on an effort to boycott Chinese products.
Video

Video ESA Spacecraft to Land on a Comet

After a long flight through deep space, a European Space Agency probe is finally approaching its target -- a comet millions of kilometers away from earth. Scientists say the mission may lead to some startling discoveries about the origins of the water on earth. VOA’s George Putic has more.
Video

Video Young Africans Arrive in US for Leadership Program

President Barack Obama's Young African Leadership Initiative has brought hundreds of young Africans to the United States for a six-week program aimed at building their knowledge and skills in fields such as public administration and business. Out of the 50,000 young Africans who applied for the program, just one percent was accepted. VOA's Laurel Bowman caught up with some of those who made the cut and has this report.
Video

Video In Honduras, Amnesty Rumors Fuel US Migration Surges

False rumors in Central America are fueling the current surge of undocumented young people being apprehended at the U.S. border. The inaccurate claims suggest the U.S. will give amnesty to young migrants from the region. As VOA's Brian Padden reports from Honduras, these rumors trace back to President Obama's 2012 executive order to halt deportations for some young undocumented immigrants already living in the United States.
Video

Video Students in Business for Themselves

They're only high school students, but they are making accessories for shoes, fabricating backpacks and doing product photography - all through their own businesses. It's the result of a partnership between a non-profit organization that teaches entrepreneurship and their schools. VOA's Mike O'Sullivan and Deyane Moses met the budding entrepreneurs near Los Angeles.
Video

Video Astronauts Train in Underwater Lab

In the world’s only underwater laboratory, four U.S. astronauts train for a planned visit to an asteroid. The lab - called Aquarius- is located five kilometers off Key Largo, in southern Florida. Living in close quarters and making excursions only into the surrounding ocean, they try to simulate the daily routine of a crew that will someday travel to collect samples of a rock orbiting far away from earth. VOA’s George Putic has more.

AppleAndroid

World Currencies

EUR
USD
0.7305
JPY
USD
101.53
GBP
USD
0.5830
CAD
USD
1.0656
INR
USD
60.075

Rates may not be current.