Economic Geography Essay Example | Topics and Well Written Essays - 500 words - 1

Economic Geography - Essay Example hat resurfaced between the US and Europe was among the significant initiatives directed at fostering the success of trade between US and the EU countries. The United States trades with a number of countries in diverse regions, top among them being China and EU countries. The extent of trade between the US and China, for instance, is notably expansive. The trade between America and EU countries is much higher than that involving America and China. It is notable that in the elimination of trade barriers, there is a likelihood that trade would increase between any two or more partners in the exchange network. Uplifting tariffs and drawbacks that may deter trade among partners in any trade relationship promotes imports and exports. According to Ewing, the free-trade agreement between the two regions has a past record but never achieved success for nearly a decade (Ewing 1). The deal, if implemented, would create massive and appreciated economic effect in Europe and the United States. The two, Europe and the United States, are strong partners in trade. According to leaders from the European Union, the pact would cause a serious economic growth in the two regions and encourage President Obama to channel for the agreement. Besides the pressure from European Union leaders, corporations and other businesses in Europe are bargaining to have the pact operational. By November 2012, there were low charges, in the form of tariffs, for trade between the US and EU countries. However, signing a free-trade deal by the two parties would be beneficial for businesses and companies dealing in large amount of goods in the trans-Atlantic business region. According to Karan Bhatia, who served as a trade representative for the US, the free-trade deal would create a substantial contribution to trade in the history of trade between EU and the US. In addition, the pact would not be costly for the taxpayers, according to Bhatia. Despite the predicted low opposition towards the coming into