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The US and the EU launch bilateral trade talks to strengthen transatlantic economic ties.
It is estimated that a deepening of the trading relationship between the two could result in new business deals worth billions of Euros.
According to the European Commission, a new trade deal between the US and the EU could increase the economic output of the EU by €122 billion a year.
The transatlantic trading relationship is the largest in the world. It accounts for about half of the global economic output and for almost a third of world trade.