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Article 207(1) of the Treaty on the Functioning of the European Union (TFEU) states: [5] "The common commercial policy shall be based on uniform principles, particularly with regard to changes in tariff rates, the conclusion of tariff and trade agreements relating to trade in goods and services, and the commercial aspects of intellectual property, foreign direct investment, the achievement of ...
The Commissioner heads up the Directorate-General for Trade in defining the commercial policy of the EU, which has been exclusively under the EU's mandate since the Treaty of Rome in 1957. Due to the size of the European economy , being the world's largest market and having a huge slice of world trade, this position can be very important in ...
The Trade and Technology Council (TTC) is a transatlantic political body which serves as a diplomatic forum to coordinate technology and trade policy between the United States and European Union. [1] It is composed of ten working groups, each focusing on specific policy areas. [ 2 ]
The EU has seven principal decision-making bodies known as the Institutions of the European Union, while the adoption of laws and coordination of EU policies is the role of the Council of the European Union which currently meets in ten different configurations.
The European Parliament (EP) shares the legislative and budgetary authority of the Union with the Council of the European Union (of relevant national government ministers). Its 705 [ 16 ] members are elected every five years by universal suffrage and sit according to political allegiance .
The European Parliament is one of three legislative institutions of the EU, which together with the Council of the European Union is tasked with amending and approving the European Commission's proposals. 705 members of the European Parliament (MEPs) are directly elected by EU citizens every five years on the basis of proportional representation.
Through Article 17 of the Treaty on European Union the commission has several responsibilities: to develop medium-term strategies; to draft legislation and arbitrate in the legislative process; to represent the EU in trade negotiations; to make rules and regulations, for example in competition policy; to draw up the budget of the European Union ...
The European Union negotiates free trade deals on behalf of all of its member states, as the member states have granted the EU has an "exclusive competence" to conclude trade agreements. Even so, member states' governments control every step of the process (via the Council of the European Union , whose members are national ministers from each ...