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The European Union-US Trade Deal reaping rapid benefits

Business

The European Union-US Trade Deal reaping rapid benefits

The European Union-US Trade Deal reaping rapid benefits

There are a number of companies that would be able to race towards the profit in lines to the free trading agreement made between the European Union and the United States of America. It would also be able to bring a boom in the economy of a number of countries including the United States, which still happens to be the largest economy in the world. The same has been said from the side of the head of the United States Chamber of Commerce.

The president of the Chamber, Thomas Donohue, said that if both of the sides would be able to make a deal tomorrow, then soon we would be seeing the European as well as the US companies riding in boats loaded with lots and lots of cash. The United States as well as the 27 member bloc are now likely to launch a number of negotiations in this regard till the end of the month of June. The discussions and talks would be lasting for nearly 2 years which means that there are chances that some accord would be there till the end of the year 2016. The deal can also be expected to add nearly 0.4 and 0.5 % to the US and European GDP respectively. The president of the chamber also said that the deal could be able to deliver some more benefits than the ones which have been reported by EC.

Donohue also said in an interview that you open the door and you are likely to find money, opportunity and chances of rapid expansion on the other side. He also added that the economies would be able to pass the through the door before anyone would know it. He continued by saying that it is also important the officials as well as the politicians should now start to move in a more quick manner in terms of concluding a more comprehensive deal. Donohue said that he is really optimistic in terms of the prospects of the deal which involves forming a free trading alliance between the different countries through which the tariffs would be reduced in addition to a number of barriers.

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