EU and US negotiators have met in Brussels for the fourth round of talks on a planned transatlantic free trade deal.
Tariffs between America and the 28-member bloc are already low; they are about 4 percent on average.
But officials say scrapping red tape will boost growth on both sides of the Atlantic.
They expect any agreement between the the US and the EU to set new global benchmarks for trade.
Both economies account for half of the entire world’s GDP and the European Commission predicts that both would expand by more than 200 billion euros once the deal takes effect.
Opponents argue the lack of transparency that surrounds the negotiations is bad news for democracy.
They say a free trade deal between Europe and America would erode regulatory standards and weaken the rights of consumers.
- EU elections 2014: the issues
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