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Transatlantic Economic Relations - Is the Time for their Resurgance Coming?
[Transatlantické ekonomické vzťahy - prichádza čas na ich oživenie?]

Author

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  • Jarolím Antal

Abstract

The economic relations between the EU and the US are considered the most significant part of the global economy. With the size of trade with goods, services and Foreign Direct Investment, the transatlantic space creates a large of added value. Regarding the proximity and historical ties between the regions, one might expect more efficient cooperation. This is also underlined by relatively low tariff barriers (2-5%). However in recent years, trade regulations have become an increasingly complex issue. The elimination of the divergent regulations is seen as possibly bringing mutual profits. In the light of the persisting economic and debt crisis in Europe, together with slow growth of the US economy, the removal of (non) tariff barriers appeals as a no-pain resolution, which might result in the negotiation of a new trade agreement relatively soon. This paper analyzes current development of the transatlantic economic relations with a focus on concrete steps that have been made with regard to the current debates about deepening economic integration between the EU and the US.

Suggested Citation

  • Jarolím Antal, 2013. "Transatlantic Economic Relations - Is the Time for their Resurgance Coming? [Transatlantické ekonomické vzťahy - prichádza čas na ich oživenie?]," Současná Evropa, Prague University of Economics and Business, vol. 2013(1), pages 45-59.
    • Handle: RePEc:prg:jnlsev:v:2013:y:2013:i:1:id:68:p:45-59
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    References listed on IDEAS

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    1. Joseph Francois & Miriam Manchin & Hanna Norberg & Olga Pindyuk & Patrick Tomberger, 2013. "Reducing Transatlantic Barriers to Trade and Investment: An Economic Assessment," IIDE Discussion Papers 20130401, Institue for International and Development Economics.
    2. André Sapir, 2011. "The Political Economy of Transatlantic Regulatory Cooperation and Competition: A (Unofficial) View from Europe," World Scientific Book Chapters, in: Simon J Evenett & Robert M Stern (ed.), Systemic Implications Of Transatlantic Regulatory Cooperation And Competition, chapter 3, pages 47-61, World Scientific Publishing Co. Pte. Ltd..
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