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The US opens talks with the European Union to launch a free trade zone to boost growth on both sides of the Atlantic.
The announcement was made by European Commission president Barroso during the first day of the G8 meeting in Northern Ireland.
"Tonight, I am announcing that we will launch talks on a comprehensive Transatlantic Trade and Investment Partnership with the European Union -- because trade that is free and fair across the Atlantic supports millions of good-paying American jobs," US President Barack Obama stated on February 12 in his State of the Union address .
The EU-US trade pact would create the world's largest free trade zone.