State Official Says Progress on U.S.-Europe Free Trade Area is Possible
A U.S.-Europe free trade area has been on the agenda for a "long time," but "is now being discussed with renewed seriousness in part because, arguably, the need for it is greater at a time when both Europe and the United States have faced tremendous economic difficulties," said Philip Gordon, Assistant Secretary of State, Bureau of European and Eurasian Affairs, responding to a reporter question at a roundtable with media in the Netherlands Jan. 8.
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"There are real opportunities there -- I don't think there's any doubt about that," Gordon said. "We've used fiscal policy, we've used monetary policy, and expanding trade and investment could be a third pillar in that approach that Europeans and Americans are following."
Gordon said the interagency process, involving State, Treasury, Commerce and the U.S. Trade Representative "will soon advise President Obama on whether we think the prospect of a comprehensive trade agreement is worth launching a negotiation. The President's made clear that he is interested in expanding this trade and investment relationship."
"Nobody has any illusions that this would be easy," Gordon said, but Secretary of State Hillary Clinton has signaled her interest in it: "I think it's fair to say that if our European counterparts are serious about doing the difficult work that would be necessary they would find a willing partner in the United States to our mutual benefit."