The European Union and the United States are each other's largest trade and investment partners. Together, they account for about one-third of the world’s trade in goods and services and nearly half of global economic output.

May 2024: US-EU Trade Agreement

Resolved: The United States should establish a comprehensive bilateral trade agreement with the European Union.

 

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BACKGROUND:

The proposition of the United States establishing a comprehensive bilateral trade agreement with the European Union is rooted in the deep economic ties and extensive trade history between these two economic powerhouses. Such an agreement aims to eliminate trade barriers, harmonize regulations, and enhance economic growth on both sides of the Atlantic. Proponents argue that it could lead to increased job creation, lower consumer prices, and stronger political and economic alliances. However, critics warn of potential downsides such as job losses in vulnerable industries, erosion of local standards and regulations, and increased corporate influence over government policies. Balancing these aspects is crucial in assessing whether such a trade pact would be beneficial or detrimental to both parties.

US-EU Trade Agreement (PRO)

US-EU Trade Agreement (CON)

  • Economic Growth: A trade agreement could stimulate economic growth by removing tariffs and fostering new business opportunities.
  • Job Creation: By opening new markets, the agreement could create jobs in industries such as manufacturing and services.
  • Consumer Benefits: Reduction in trade barriers can lead to lower prices and more choices for consumers in both regions.
  • Political Stability: Strengthened economic ties could lead to more stable political relationships between the U.S. and EU.
  • Innovation Boost: Easier access to markets and a harmonized regulatory environment might encourage innovation and technological advancement.
  • Job Displacement: The agreement might lead to job losses in sectors unable to compete with increased imports.
  • Regulatory Erosion: Harmonizing regulations might result in the lowering of standards in areas such as environmental protection and labor rights.
  • Economic Dominance: Smaller or less competitive industries could suffer under the dominance of larger multinational corporations.
  • Cultural Impact: There could be negative impacts on local cultures and traditions due to the homogenization of markets.
  • Dependency Risks: Increased economic interdependence could make local economies more susceptible to external economic crises.

REQUIRED RESEARCH (VIDEOS & ARTICLES)

Please watch all of the required videos (& take notes) before arriving at the first forensics team meeting.
“WeTransfer” link for the videos & articles (will expire in 2025): [WeTransfer (Possibly Later)].

Required Research (Videos):

International Trade Explained | World101,
CFR Education, June 18, 2019 [7 min]
https://www.youtube.com/watch?v=HfN8BnRJryQ

All about trade agreements,
European Parliament, April 9, 2015 [3 min]
https://www.youtube.com/watch?v=yuATkCyE1C0

EU-US Trade: A balanced relationship,
Vision Communication, September 9, 2019 [2 min]
https://www.youtube.com/watch?v=YDmEF7EuQOU

Obama calls for US-EU free trade agreement,
Euractiv, February 13, 2013 [2 min]
https://www.youtube.com/watch?v=gN21PEIv4Vo

Tensions hang over EU, U.S. trade discussions,
CNBC Television, December 5, 2022 [3 min]
https://www.youtube.com/watch?v=mk6wMheJnro

Required Research (Articles):

Bilateral Trading,
Carbon Collective, Last Updated: May 13, 2024
https://www.carboncollective.co/sustainable-investing/bilateral-trading

Bilateral Trade Definition and Pros & Cons of Agreements,
Investopedia, Last Updated: December 21, 2020
https://www.investopedia.com/terms/b/bilateral-trade.asp

Transatlantic Trade and Investment Partnership (TTIP) Overview,
Investopedia, Last Updated: September 30, 2022
https://www.investopedia.com/terms/t/transatlantic-trade-and-investment-partnership-ttip.asp

U.S.-EU Trade and Economic Relations,
Congressional Research Service, Last Updated: June 9, 2023
https://crsreports.congress.gov/product/pdf/IF/IF10931

Market Challenges,
International Trade Administration, February 3, 2024
https://www.trade.gov/country-commercial-guides/eu-market-challenges

OPTIONAL RESEARCH (ARTICLES & VIDEOS)

Please consider watching/reading the following research areas in order to prepare for upcoming events.

Optional Research (Articles & Videos):

[OPTIONAL] What global trade deals are really about (hint: it’s not trade),
Haley Edwards, TEDx Mid-Atlantic, May 17, 2017 [11 min]
https://www.youtube.com/watch?v=-v3uqD1hWGE

[OPTIONAL] USMCA vs NAFTA, explained with a toy car,
Vox, October 30, 2018 [7 min]
https://www.youtube.com/watch?v=371CRxnGkA8

What is bilateral trade?,
Amazon Global Selling, November 14, 2023
https://sell.amazon.in/grow-your-business/amazon-global-selling/blogs/bilateral-trade

EU-US Trade and Technology Council,
European Commission (EU),
https://commission.europa.eu/strategy-and-policy/priorities-2019-2024/stronger-europe-world/eu-us-trade-and-technology-council_en
IMPORTANT: This is going to be incredibly valuable toward understanding the context of US-EU Bilateral Trade (TTC).

ADDITIONAL RESEARCH (Evidence & Outlines)

We provide students with some sample evidence and/or outlines to help them prepare for any upcoming events. This research can be copied word-for-word, or can be modified to fit the students needs. Copying these and other outlines is proper (it’s not cheating). I hope they are useful for you.

Register for the Upcoming HMDC Debate Events (None Scheduled!)

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