US to begin trade talks with European Union

WASHINGTON: President Barack Obama pledged to pursue a trade agreement with the European Union that would expand the world's largest economic relationship, while at the same time finishing discussions for a Pacific-region accord.

"Trade that is fair and free across the Atlantic supports millions of good-paying American jobs," Obama said during his State of the Union speech. It was his strongest commitment to trade negotiations with the EU.

Talks with the 27-nation EU may help Obama meet his goal of doubling exports by the end of 2014 as other global trade negotiations stall and China increases its role internationally. Obama's administration also plans to complete negotiations on the Trans-Pacific Partnership with 10 nations and increase America's role as a manufacturing center.

Recent US trade agreements took years of negotiations. The administration didn't specify when the EU talks would begin.

UK Prime Minister David Cameron, who has said he'll push for an EU-US accord at the Group of Eight summit in Northern Ireland this year, welcomed Obama's announcement. "Breaking down the remaining trade barriers and securing a comprehensive deal will require hard work and bold decisions on both sides," he said.