The EU negotiates various trade deals all over the world, but they depend on approval by the European Parliament. Read our overview of the negotiations in progress.
The importance of trade agreements
Trade agreements are a key component of the EU’s trade policy. as they are a key driver of economic growth. In 2020 the EU was the world’s second biggest exporter of goods (15%) after China (18%) but ahead of the US (10%). It was also the third largest importer (13%) after the US 16%) and China (14%) in 2020. New trade agreements create new business opportunities for European companies, leading to more jobs being created, while consumers can look forward to more choice and lower prices.
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