Plank 2 solves econ
Cameron 14 David Cameron, Co-Chair, Council on State Fragility at International Growth Centre, President, Alzheimer’s Research UK and Chair, NCS Board of Patrons London, England, United Kingdom "5 reasons for an EU and US Free Trade Agreement”, LinkedIn, https://www.linkedin.com/pulse/5-reasons-eu-us-free-trade-david-cameron, Published December 18th, 2014, accessed July 17th, 2024 by NT-BH
Today the CBI published a report on trade between the European Union and the United States.
The CBI report makes a clear and important argument – a Free Trade Agreement between the EU and the US is good for businesses, good for consumers and will create new jobs both here in the UK and in the US. It would inject £100 billion into the European economy every year, and that is why I pressed to launch the negotiations at the UK G8 summit in Lough Erne, and it is why I have been making the case for this agreement ever since, and will continue to do so in Brussels today.
Opening up trade with the US won’t just help big businesses; it is the small and medium-sized enterprises who will benefit the most from having time-consuming red-tape removed from transatlantic deals. When businesses across Europe are telling us this agreement is the right thing to do for growth, it would be wrong to ignore them.
Today, together with leaders from Spain, Italy, Poland, Denmark and Finland, I have heard from business associations from across Europe who all agree that a Free Trade Agreement between the EU and the US will unlock growth and jobs.
The CBI has identified five key reasons as to why successfully concluding this trade deal is so essential:
Big opportunities for small and medium sized enterprises (SMEs)
As SMEs often lack the time, budget and expertise to deal with trade barriers, this agreement would help first-time exporters get their products to the US market at more competitive prices, and even non-exporters in the supply chain would benefit.
More choice and lower prices for consumers
Removal of tariff barriers means a bigger range of products in shops at cheaper prices. Tariffs do not just hurt companies and their employees - they also penalise the consumer.
Less red tape and bureaucracy
This deal will remove unnecessary and costly red tape, particularly where there are duplications. High safety standards would not be undermined, as smarter regulation on both sides will reduce bureaucracy and make trade cheaper and faster for all.
Bigger market for the UK's world-leading service companies
From engineering consultants to specialist insurers, an EU/US trade deal can support the next wave of service companies wanting to export to the US.