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Transatlantic Free Trade Area

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Transatlantic Free Trade Area

A Transatlantic Free Trade Agreement (TAFTA) is a proposal to create a free-trade Agreement covering Europe and North America, on both sides of the Atlantic Ocean. Such proposals have been made since the 1990s and since 2013 an agreement between the United States and the European Union has been under negotiation: the Transatlantic Trade and Investment Partnership. If an agreement is reached and ratified on both sides (which is not certain) then, at least in theory, it could potentially be expanded to include the European Free Trade Association (EFTA). Canada and Mexico each have free trade agreements with both the EU and EFTA.

Contents

Current and pending trade agreements between proposed members

  • Trans-Pacific Partnership (Australia, Brunei Darussalam, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, the United States, and Vietnam) – pending approval as of 2016
  • North American Free Trade Agreement (US, Canada & Mexico) – took effect in 1994
  • Canada–European Free Trade Association Free Trade Agreement (Canada & EFTA) – took effect in 2009
  • Comprehensive Economic and Trade Agreement (Canada & EU) – negotiated but pending approval as of 2016
  • Free Trade Agreement between Mexico and the European Union (Mexico & EU) – took effect in 2000
  • Free Trade Agreement between Mexico and the European Free Trade Association (Mexico & EFTA)
  • European Economic Area (most of EU & EFTA) – took effect in 1994
  • Various bilateral free trade agreements of Switzerland

    • EU-US trade

  • Transatlantic Economic Council

    • References

    Transatlantic Free Trade Area Wikipedia
    (Text) CC BY-SA


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