Mandate to negotiate the EU – US agreement on trade and investment obtained today
I am delighted we have a mandate to negotiate an agreement on trade and investment with the United States. These negotiations can be a game changer.
It shows that where there is a will there is a way.
We are already each other's biggest trade and investment partners. Strengthening this relationship will bring more jobs, more growth to Europe and the United States. The potential economic gains for the EU are estimated at around €120 billion a year. And the real beauty of this deal is that it will offer real returns of around €545 per average household in Europe almost for free. This makes it the cheapest stimulus package one can imagine.
Both sides come to these negotiations with their own priorities and interests. But I am convinced that, if both sides show the political will, we can reach an agreement that fully respects our sensitivities.
Beyond the economic benefits, this is also about our place in the world. An agreement will forge a shared future based on our common values and our common commitment to open trade.
The European Commission will take these negotiations forward. We will work quickly while ensuring that the substance is right.