Could A US-EU Free Trade Deal Harm The WTO?

March 1 (Bloomberg Law) -- In his 2013 State of the Union address, President Obama announced plans to negotiate and execute a free trade agreement between the United States and the European Union. Jim Bacchus, partner at Greenberg Traurig LLP and former Democratic congressman from Florida, thinks a new deal could spur growth on both sides. "If I were still in the Congress. . . I would undoubtedly vote for it," he tells Bloomberg Law's Lee Pacchia. Despite the apparent benefits, however, some critics worry that a new free trade agreement could be negotiated in a way that harms the current global trade system. The deal "raises fundamental questions about the future of the world trading system that the United States has spent half a century building," says Bacchus, who formerly served as a chairman of the WTO'S appellate body.
Aetna to Buy Humana for $37 Billion
47:05 - Bloomberg's Francine Lacqua and Manus Cranny report on today's "Top Headlines." They speak on Bloomberg Television's "The Pulse." (Source: Bloomberg)
  • No Single Personality Can Unite Greece Now: Michaletos
  • Global Stock Market Still in Pretty Good Shape: Gilbert
  • Greek 'No' Vote Would Make Euro Exit Likely: Nakisa