Over the past two decades, the European Union (EU) and the United States (US) have formed the world’s leading trade partnership. The complementary nature of their economies is reflected in the impressive volume of imports and exports that traverse across the Atlantic on a daily basis – equating to over $1 billion. Together, the EU and US are responsible for 33% of goods traded globally and 42% of services traded worldwide. To reduce regulatory barriers and increase business links between the two powers, both nations are currently negotiating a free trade agreement – the Transatlantic Trade and Investment Partnership (TTIP). This forthcoming agreement represents part of the US’s long-term strategy of encouraging global trade flows, and in turn, fuelling global GDP. This edition of the Trade Focus Report comments on the strengthening trade relations between Europe and America, and how container ships will be vital in supporting the future spike in goods being traded across the Atlantic.
Download the full report here.