The European Union and the United States have agreed to pursue a free trade agreement, US President Barack Obama and the EU announced Wednesday.
"The United States and the European Union will each initiate the internal procedures necessary to launch negotiations on a Transatlantic Trade and Investment Partnership," Obama, EU President Herman Van Rompuy and EU Commission President Jose Manuel Barroso said in a joint statement.
"Ideally, we'd like to complete this work in about two years from now," said EU Trade Commissioner Karel De Gucht, stressing that the undertaking "won't be easy."
Most Popular Stories
- PBS Series Examines America's Demographic Shift
- Tim Cook Has Proved That Apple is His Baby
- Texas Sees Gains in Hispanic College Enrollment
- Americans Bet Big on Gambling Industry
- Petri Likely Broke House Ethics Rules
- California's Ban on Plastic Bags: What Now?
- Exxon Gives Nod to Fracking Risks
- Morgan: 'Can't Believe' Wal-Mart Blaming Him
- Royals Beat A's in 12-inning Wild Card Thriller
- Can You Be Fired for Using Medical Marijuana?