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No Need for Trans-Atlantic Trade Deal to Be an Ocean Away

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European Union leaders announced last week their intent to pursue negotiations with the U.S. over a free-trade agreement. President Barack Obama should reciprocate.

Over the past year, the idea of a Trans-Atlantic Free Trade Agreement has taken on mythical attributes: It’s an enticement for the U.K. to remain in the EU, a prod to resume dormant global trade talks and a counterweight to a rising China.