The EU-US trade deal intent to slash the low trade tariffs they
share but also aim to harmonise regulations to an unprecedented
degree.
In light of the global financial crisis and recession, US has a
standpoint, the American view the deal of the negotiators should
also abandon the traditional de-regulatory agenda toward financial
services that would promote mergers and acquisitions, creating new
global conglomerates that would be "too big to fail."
Instead, negotiators should concentrate on creating opportunities
for institutional cooperation as American and European regulators
work to stabilize the global financial system and rein in Wall
Street excesses.
On the other hand The European Commission supports free trade,
but not at the price of sacrificing European standards in areas
such as food safety, health, social and data protection or cultural
diversity.
