Key US-EU trade pact under threat after more NSA spying allegations

[CBHagman]

15. Only hundreds of billions of dollars' worth of goods.

We have an imbalance, importing more from them, and moreover there's the issue of tariffs to consider, but on the whole we're very dependent upon each other.

[url]http://www.nytimes.com/2013/03/13/business/global/us-and-europe-seek-backing-for-landmark-trade-pact.html?_r=0[/url]

Between them, the United States and Europe already account for about half of global economic output and one-third of world trade. Bilateral trade in 2011 amounted to €455 billion, or about $593 billion, with a positive balance for the Union of more than €72 billion, according to Mr. De Gucht’s office. The United States is the bloc’s main export market, buying €264 billion of goods, or about 17 percent of total E.U. exports, according to his office.