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Transatlantic Trade and Investment Partnership (TTIP)
On June 17, 2013, President Obama, together with European Council President Van Rompuy, European Commission President Barroso, and Prime Minister Cameron, announced that the United States and the European Union (EU) will launch negotiations on a Transatlantic Trade and Investment Partnership (TTIP) agreement. The transatlantic economic relationship is already the world’s largest, accounting for one third of total goods and services trade and nearly half of global economic output.
TTIP will be an ambitious, comprehensive, and high-standard trade and investment agreement that offers significant benefits in terms of promoting U.S. international competitiveness, jobs, and growth. This ambitious trade and investment agreement will aim to boost economic growth in the United States and the EU and add to the more than 13 million American and EU jobs already supported by transatlantic trade and investment.