Free trade with the US will drive automotive and food Balance comercial
The last meeting of G-8 served to dramatize the start of negotiations between the European Union and the US, starting in July and presumed to be very difficult, but that culminate cause a turnaround unprecedented in world trade. Both areas represent 45% of world GDP, 44% of imports of goods and 43% of foreign direct investment. The creation of a free trade area and the disappearance of tariff and non-tariff barriers have a direct effect on growth and employment, euro area severely punished for five years. Especially significant is the deterioration suffered by Spain, with six million unemployed and a second recession that has already lasted for six quarters. A report by the Berltesmann Foundation concludes that finally the agreement rubric, Spain will be the fourth country more jobs created (between 36,000 and 143,000 new jobs) and fourth in the most income per capita will increase with growing 6.6% long term. The main beneficiaries of this agreement would be the US, UK and Germany, in that order.