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The European Union's (EU) Common Commercial Policy, or EU Trade Policy, is the policy whereby EU Member States delegate authority to the European Commission to negotiate their external trade relations, with the aim of increasing trade amongst themselves and their bargaining power vis-à-vis the rest of the world.
The EU forms its own customs union with a common external tariff and commercial international trade policy, which means that the EU operates as a single actor at the WTO, represented by the European Commission. [3] EU trade policy is decided by the Article 133 Committee – named after the article of the EU treaties on which its trade policy is ...
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 European Union has concluded free trade agreements (FTAs) [1] and other agreements with a trade component with many countries worldwide and is negotiating with many others. [2] 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 ...
The 27 European Union-member governments would have had to approve of the partnership, via unanimous voting under TFEU Articles 207 and 218, on the negotiated agreement in the Council of the European Union, at which point the European Parliament will also be asked for its endorsement. The European Parliament is empowered to approve or reject ...
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 (EU) is a supranational political and economic union of 27 member states that are located primarily in Europe. [9] [10] [11] The Union has a total area of 4,233,255 km 2 (1,634,469 sq mi) and an estimated total population of over 449 million.
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.