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Trans-Atlantic Relations: New grounds for increased cooperation on Trans-Atlantic issues J.D. Gordon Senior Fellow Center for a Secure Free Society, Washington, DC EPP EIN – FAES, Madrid March 2014 • How can TTIP strengthen strategic partnership between U.S.-E.U.? • Maximize economic potential through eliminating unnecessary regulatory barriers, tariffs and overly burdensome customs procedures Source: Heritage Foundation • Boost U.S. and E.U. economies, which combined account for almost 1/2 of the world GDP, at $16.5 and $16 trillion USD, respectively, and 1/3 of total world trade Source: U.K. Trade & Investment, U.S. State Department • Create jobs, adding 740,000 to 13 million U.S. workers already employed in Trans-Atlantic business sector Source: Atlantic Council, Bertelsmann Foundation • Strengthen Trans-Atlantic collective security through improved economic policies and resulting increased revenues • Why is this important? • Global Conflict is Growing... • …from those whose do not share U.S.-E.U. common values of respecting international law or territorial sovereignty… • …Nor respect the democratic process, its institutions, human rights and the rule of law • Annualized GDP Growth Rates: 2007-2027 • E.U.: 1.17% • U.S: 1.90% • China: 8.24% • India: 6.19% Source: European Commission, Eurostat • Defense budget spending trends • E.U.: Decreasing, dropped $263 billion to $220 billion, 2001-2011 • U.S: Decreasing $1 trillion over a decade, current $495 billion • China: Increasing approx. 10% annually, current $132 billion • Russia: Increasing approx. 44% since 2007, current $78 billion Source: Economist, CSIS, Jane’s Annual Defense Budgets • U.S., E.U. military spending 39% and 18% of world total, respectively – but in decline Source: CFR, Washington Post • If the U.S. and E.U. don’t stand together for a global freedom agenda, who will? • If the U.S. and E.U. cannot protect their own citizens from modern era radical Islam-inspired global terrorism, who will? • Conclusion • Each and every Dollar, Euro, Pound saved through TTIP will result in stronger U.S. and E.U. to better face shared security and economic threats • While differences still exist, the price of not enacting TTIP is too high considering current worldwide global trends • Global freedom agenda depends on close U.S.-E.U. partnership • “We must all hang together, or assuredly will shall all hang separately” – Benjamin Franklin, 1776 • Questions?