||Europe as a Trading Partner:
The External Face of Europe
By any measure, the European Union is a global economic superpower. Now including a total of 25 Member States, the EU has over 450 million citizens and an aggregate GDP of over $12 trillion. The EU is also the world's single largest trader, accounting for more than a fifth of the global trade in both goods and services. A concerted political effort in the 1980s to unify the European internal market has paid off, giving EU negotiators tremendous leverage through offering potential trade partners access to the world's largest single economic market. The US and EU are also highly interdependent economically. Transatlantic asset-holding is immense, and corporate America earns nearly half of its foreign affiliate income from Europe. During the 1990s, foreign investment from Europe added nearly $650 billion to the US economy, while US investment in Europe totaled nearly $450 billion. In international trade policy, therefore, the US and EU are equals as well as indispensable partners.
- Europe's Trade Architecture
- Current Institutional Difficulties
- Current Transatlantic Trade Relations
- Challenges to the Traditional Role of the "G2"