March 25th marks the 60th anniversary for the founding of the European Union. This treaty is a key pillar of the structure that was establish in the wake of World War II. In order to consolidate peace, prosperity, and partnership in Europe.
The EU and its predecessors have been an important U.S. partner over the past 60 years. They have helped to increase economic opportunities for American companies in Europe. And also provided vital diplomatic and foreign aid to solve international problems. The United States would look to create the EU if it didn’t exist. This is to preserve peace and promote prosperity on a continent that has suffered two terrible world wars.
Recent events have seen the EU face a number of existential threats. The euro crisis has impacted its financial health, and economic growth has slowed. U.K. voters chose to leave the union, and euro skeptics in France. And the Netherlands criticize Brussels in order to win elections. Some Americans reacted with cheers to Brexit, even in the United States.
Based on many years of experience as policymakers, diplomats and researchers on transatlantic matters. The bottom line is that the U.S. requires a strong economic partnership. With Europe in order to improve its economic well-being and resolve vexing regional and international issues. Washington would be wise not to forget that such a partnership is much. More difficult to maintain without the EU’s single voice.
Peace And Prosperity Are Our Union Goals
The United States efforts to rebuild Europe through the Marshall Plan and stop the spread communism after World War II, may have prevent the EU from being create.
U.S. Secretary George Marshall and U.S. President Harry Truman agreed 70 years ago that Europe needed to build interdependent and competitive economies to ensure peace and prosperity. These American efforts led to the creation of what we now call the European Union.
It has worked. The EU, whether it is through the European Council or the European Commission, has contributed to the stability and economic competition between democratic countries on the continent https://18.104.22.168/togel-online/bandar/loker4d/.
Because it create rules and norms that allow businesses to be done across all member states, the EU’s single market has brought unprecedent wealth. After the fall of the Iron Curtain, the EU was a vehicle that allow Central Europe to be include in the EU’s single market. It is still a magnet for those who wish to join the EU.
The EU has grown seven times faster than it was in 1957, when six countries had 186 million inhabitants. Now there are 28 countries with 515million citizens. In fact, the combined EU economy is more than the United States and ranks second in the world after China.
The Economic Ties That Unite
It is important to acknowledge the value that has been created by the European Union’s single market and other initiatives, even if you view it from an America first perspective.
Today, the transatlantic economy is responsible for US$5.5 trillion in commercial sales per year and has up to 15,000,000 workers on both sides. They are the largest and most wealthy market in the world combined, driven by both investment and trade.
About 60 percent of America’s total foreign assets is located in Europe. The 2015 sales in Europe by U.S. companies’ EU units topped $3.1 trillion. Their assets in Europe are estimated at $15.7 trillion. Over 70% of the $3.1 trillion spent in the U.S. by EU units in 2015 was accounted for by Europe, and assets from the U.S. estimated to be $8.4 trillion are attributed to Europe. The Atlantic trade in goods has nearly doubled since 2000. It reached $686 billion in 2016. 45 states also export more goods to Europe than to China.
A deeply integrated economic relationship like this one should allow for greater economic cooperation. The U.S. should encourage the EU to make the necessary steps to stimulate economic growth.
Let’s forge a new economic agreement if the Trump administration is interested in addressing the U.S.-EU trade deficit. Before the US elections, the EU and the U.S. tried to reach an agreement through the Transatlantic Trade and Investment Partnership. We believe that a strong trade agreement between the partners could create new opportunities for both sides of the Atlantic. However, the agreement is still in place.
Together, We Can Tackle Problems
The EU is an important partner for the United States in international issues and is vital as a source fund to support humanitarian and development needs in nearly every corner of the globe. This is especially important if the U.S. plans to decrease its aid spending.
In 2015, the EU and its member countries provided more than $87 billion in official assistance for development. This is 55.7 percent. Similar numbers are available for the United States at $31 billion or 23.6 per cent.
It is true that the EU’s complex institutional structure can slow down decision-making. This becomes even more difficult when the EU’s competencies and authority conflict with the member states, such as in the fight against terrorism and dealing with refugees. This has been improved by the EU, which established union a high representative to represent members in various regional situations. For example, the EU has been an active partner in Ukraine, Iran and the Middle East.
The EU remains a stronger partner in foreign policy for the U.S. than it was in the past, despite its shortcomings. The United States would be much more burdened if the EU didn’t provide significant resources to assist with humanitarian crises, manage the fallout from terror attacks, and boost the prospects of peace and stability for countries like Ukraine.