Free-trade Agreements for US and Europe

  • Author: ChemistryViews
  • Published: 12 February 2013
  • Copyright: Wiley-VCH Verlag GmbH & Co. KGaA
  • Source / Publisher: Chemical & Engineering News (C&EN)/American Chemical Society
thumbnail image: Free-trade Agreements for US and Europe

“The US chemical industry is now one of the lowest-cost producers in the world,” said Calvin M. Dooley, chief executive officer of the trade group American Chemistry Council (ACC). According to the recent ACC report, exports of chemicals and plastics produced in the US have increased by 15 % since 2010. This is a $34.7 billion trade surplus for the industry in 2012.
The ACC is calling for a “robust and comprehensive” trade pact with the EU to further expand exports and capitalize on the dramatic drop in natural gas prices over the past few years.
US and EU trade officials have held preliminary talks, formal negotiations might begin this spring.

The ACC report also calls for a more cost-effective regulatory environment, expanded shale gas development, a lower corporate tax rate, and reduced freight rail transportation costs.

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