American goods and services
Receiving commitments rom the European Union to cooperate with American and internationallabor laws and environmental objectives
Advancing the protection and enorcement o intellectual property rights (IPRs) in deense o Ameri-can innovators, businesses, and armers
Increasing transparency and preventing corruption in trade and investment with EU Member States
Developing efcient and eective measures to settle trade and investment disputes between the Unit-ed States and European Union
US-EU Free Trade: A Modern History
- In Madrid, the United States and European Union adopt the New ransatlantic Agenda (NA)to strengthen the U.S.-EU economic relationship. Te NA establishes a more requent and structureddialogue between the two economic powers.
- Te ransatlantic Economic Partnership (EP) is created in London. Its objective is to improvecooperation between the United States and European Union within the context o the NA.
In reality,the EP produced ew tangible accomplishments.
- Following a summit in Washington, D.C., the “Guidelines or Regulatory Cooperation andransparency” are revealed in an eort to improve the regulatory dierences on both sides o the Atlantic.Te guidelines aim to “improve cooperation between regulators and to promote transparency to thepublic in establishing and amending regulations.”
- At a summit in Shannon, Ireland, the “Strategy or Strengthening EU-U.S. Economic Partnership”is outlined. Trough engaging the public, the partnership aims to establish the American point o view or later transatlantic negotiations. Te summit results in the outlining o “Continuing our Cooperationto Expand ransatlantic rade,” which calls on political leaders to move orward with the U.S.-EU traderelationship.
- As a result o the summits in Ireland, the U.S. and EU release a declaration to begin the “Initiativeto Enhance ransatlantic Economic Integration and Growth” to “expand economic opportunity, promoteprosperity, and maintain the health and saety o our peoples” by removing hindrances to trade andinvestment encouraging private activity.
- President George W. Bush, European Commission President José Manuel Barroso, and GermanChancellor Angela Merkel sign an agreement that establishes the ransatlantic Economic Council (EC)to oversee and encourage economic cooperation between the United States and European Union.
Areaso cooperation include regulation, intellectual property rights, innovation and technology, secure trade,and investment. For the next our years, the EC almost exclusively ocused on specic trade grievances.