In his State of the Union address, President Obama announced the launch of a new comprehensive trade, investment and regulatory cooperation agreement between the U.S. and the European Union.
The U.S. and the EU already have a good trading relationship. Every day, goods and services worth $2.7 billion are traded between the U.S. and the EU.
When completed, the new agreement will further boost two-way trade and investment and will create more jobs on both sides of the Atlantic.
U.S. companies, workers and farmers will benefit.
With 95% of the world's population and 80% of the world's purchasing power outside U.S. borders, international trade and investment are more important than ever for America's continued prosperity. American jobs are created and supported when American products and services are sold overseas.