The U.S. President Barack Obama and several government leaders from EU area countries publish the plan during a summit on 26 March. The agreement will enable the EU and the U.S. to be the world’s largest free trade area.
“The EU and the U.S. are very determined to finalize the ambitious free trade agreement,” wrote the draft.
One of the goals is thus to remove all duties on trade between the the USA and the EU/EEA countries. The agreement will eliminate many financial and technical barriers in front of the import of textile, automotive and electronic goods.
Norway May be Negatively Affected
Former head of Europabevegelsen and expert in the EU-Norway relations, Paal Frisvold believes that the agreement between the EU and the U.S. will have major consequences for Norway, as an EEA country.
-This is going to mean a lot to Norway, because we subsequently have to appy the same conditions as the EU and the U.S. provde to each other. This will mean more competition for some sectors in Norway, but at the same time greater export opportunities for consumers and traders. It can also get pretty big consequences for Norwegian agriculture. It will be difficult for us to protect ourselves against the EU in the same way as today, he said to Nettavisen.
EU and the U.S. plan to have the agreement frame ready by the end of 2014.