On November 1, the new European Commission headed by Commission President Jean-Claude Juncker, former Prime Minister of Luxembourg, took office.
The EU-US partnership has been integral in successfully addressing many of the most serious threats to peace, stability, and democracy across the globe in the two decades since its formalization.
Going forward, the EU will be an undeniably important partner as the US works to further secure these tenants in the 21st century. The instatement of a new Commission comes at a critical time as the threats of Ebola in West Africa, ISIL, and Russia’s actions in Ukraine are at a tipping point.
The simultaneous Congressional mid-term election in the US offers a unique opportunity for both bodies to reaffirm their commitment to the EU- US partnership and its goals, and consider how to maximize its effectiveness in addressing current concerns and furthering shared interests.
The EU and US economies account for about half of the world GDP and almost one-third of total world trade flows. Total US investment in the EU is three times higher than in all of Asia while EU investment in the US is about eight times the amount of EU investment in India and China combined.
In June of 2014, official negotiations began between the US and EU on the Transatlantic Trade and Investment Partnership (TTIP). The TTIP aims to drive growth and create jobs by eliminating barriers to trade. This means cutting tariffs, unifying existing differences in technical regulations, and standards and approval processes.
The TTIP will provide an opportunity for the newly elected Congress to set the tone for the EU-US partnership going forward. Its success rests squarely on bipartisan Congressional support and would signal a firm commitment from US lawmakers to work in concert with their EU counterparts.
On Wednesday, November 12th ASP will host DAS Julieta Valls Noyes of the Bureau of European and Eurasian Affairs; Paul Adamson, Editor in Chief of E!Sharp and Chairman of Forum Global; and Simon Rosenberg, President of NDN for The U.S. – E.U Strategic Partnership: Trade, Energy and Security.
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