• The post you are reporting:
   
  Courtesy BBC World News...........................
  
  How will Flashman sell this to his euro sceptics................
  
  EU and US 'in biggest trade deal'
  
  David Cameron: "We're talking about what could be the biggest bilateral trade deal in history"
  
  UK Prime Minister David Cameron has announced plans for what could be "the biggest bilateral
  
  trade deal in history" between the EU and the US.
  
  He announced the start of formal negotiations on a trade deal worth hundreds of billions of pounds
  
  , aimed at boosting exports and driving growth.
  
  Mr Cameron said a successful agreement would have a greater impact than all other world trade
  
  deals put together.
  
  The talks were announced ahead of the G8 summit in Northern Ireland.
  
  US President Barack Obama said the first round of negotiations would take place in Washington in
  
  July. They aim to conclude by the end of 2014.
  
  The French have already expressed misgivings about parts of the trade deal. They are worried that
  
  if they cannot protect their film industry from Hollywood's dominance, their unique artistic culture will
  
  be undermined.
  
  After intense talks with other EU countries last week, it seems the French have persuaded the
  
  negotiators to honour what they call a cultural exclusion.
  
  That leaves the way open for other sectors to say they are also exceptional and should not be
  
  included in the trade deal.
  
  The French claim the Americans want to exclude financial services from the free trade negotiations.
  
  The Americans have not acknowledged that publicly but it is a reminder that behind closed doors
  
  the discussions might be very difficult.
  
  Mr Obama said he was confident of reaching an agreement.
  
  "There are going to be sensitivities on both sides... but if we can look beyond the narrow concerns to
  
  stay focused on the big picture... I'm hopeful we can achieve [a deal]."
  
  'Once in a generation'Mr Cameron said the deal could be worth £100bn to the EU economy, £80bn
  
  to the US and £85bn to the rest of the world.
  
  He said the pact could create two million jobs, and lead to more choice and lower prices in shops.
  
  "This is a once-in-a-generation prize and we are determined to seize it," said Mr Cameron.

Report Post

Your Name

Reason