A Transatlantic Free Trade Agreement (TAFTA) is a proposal to create a

free-trade agreement A free-trade agreement (FTA) or treaty is an agreement according to international law to form a free-trade area between the cooperating states. There are two types of trade agreements: bilateral and multilateral. Bilateral trade agreements occur ...

covering

Europe Europe is a large peninsula conventionally considered a continent in its own right because of its great physical size and the weight of its history and traditions. Europe is also considered a Continent#Subcontinents, subcontinent of Eurasia ...

and

North America North America is a continent in the Northern Hemisphere and almost entirely within the Western Hemisphere. It is bordered to the north by the Arctic Ocean, to the east by the Atlantic Ocean, to the southeast by South America and the Car ...

, on both sides of the

Atlantic Ocean The Atlantic Ocean is the second-largest of the world's five oceans, with an area of about . It covers approximately 20% of Earth's surface and about 29% of its water surface area. It is known to separate the " Old World" of Africa, Europe ...

. Such proposals have been made since the 1990s. Between 2013 and about 2017 an agreement between the

United States The United States of America (U.S.A. or USA), commonly known as the United States (U.S. or US) or America, is a country primarily located in North America. It consists of 50 states, a federal district, five major unincorporated territorie ...

and the

European Union The European Union (EU) is a supranational political and economic union of member states that are located primarily in Europe. The union has a total area of and an estimated total population of about 447million. The EU has often been des ...

(EU) was under negotiation - the

Transatlantic Trade and Investment Partnership The Transatlantic Trade and Investment Partnership (TTIP) was a proposed trade agreement between the European Union and the United States, with the aim of promoting trade and multilateral economic growth. According to Karel de Gucht, European ...

- but it was abandoned. If an agreement is reached and ratified on both sides, it could at least in theory be expanded to include the

European Free Trade Association The European Free Trade Association (EFTA) is a regional trade organization and free trade area consisting of four List of sovereign states and dependent territories in Europe, European states: Iceland, Liechtenstein, Norway and Switzerlan ...

(EFTA).

Canada Canada is a country in North America. Its ten provinces and three territories extend from the Atlantic Ocean to the Pacific Ocean and northward into the Arctic Ocean, covering over , making it the world's second-largest country by tot ...

and

Mexico Mexico (Spanish: México), officially the United Mexican States, is a country in the southern portion of North America. It is bordered to the north by the United States; to the south and west by the Pacific Ocean; to the southeast by Guatema ...

both have free trade agreements with both the EU and EFTA.

Current and pending trade agreements between proposed members

Comprehensive and Progressive Agreement for Trans-Pacific Partnership Comprehensive may refer to: *Comprehensive layout, the page layout of a proposed design as initially presented by the designer to a client. * Comprehensive school, a state school that does not select its intake on the basis of academic achievement ...

(Canada and Mexico along with Australia, Japan, Singapore, New Zealand, Vietnam) - since 2018: The United Kingdom is also attempting to participate since 2021. *

United States–Mexico–Canada Agreement The Agreement between the United States of America, the United Mexican States, and Canada (USMCA) Commonly known as the United States–Mexico–Canada Agreement (USMCA) in the United States and the Canada–United States–Mexico Agreement (CU ...

(US, Canada & Mexico) – took effect in 2020 *

Canada–European Free Trade Association Free Trade Agreement The Canada–European Free Trade Association Free Trade Agreement is a trade agreement between Canada and the member states of the European Free Trade Association (Iceland, Norway, Switzerland and Liechtenstein). Signed in Davos, Switzerland on Jan ...

(Canada & EFTA) – took effect in 2009 *

Comprehensive Economic and Trade Agreement The Comprehensive Economic and Trade Agreement (CETA) is a free-trade agreement between Canada and the European Union and its member states. It has been provisionally applied, thus removing 98% of the preexisting tariffs between the two parts. ...

(Canada & EU) – substantial parts are provisionally applied since September 2017 *

Free Trade Agreement between Mexico and the European Union Free Trade Agreement between Mexico and the European Union (FTA EU-MX), is a trade agreement between the European Union and Mexico. It was signed on December 8, 1997, in the city of Brussels, under the designation "Agreement of Economic Partne ...

(Mexico & EU) – took effect in 2000 * Free Trade Agreement between Mexico and the European Free Trade Association (Mexico & EFTA) *

European Economic Area The European Economic Area (EEA) was established via the ''Agreement on the European Economic Area'', an international agreement which enables the extension of the European Union's single market to member states of the European Free Trade Ass ...

(most of EU & EFTA) – took effect in 1994 * Various bilateral free trade agreements of Switzerland

EU-US trade

Transatlantic Economic Council The Transatlantic Economic Council (TEC) is a body set up between the United States and European Union to direct economic cooperation between the two economies. Establishment and chairmanship The TEC was established by an agreement signed on Apri ...

References

External links

EU negotiations site

European Commission, DG Trade - In focus Transatlantic Trade and Investment Partnership (TTIP)

USTR Transatlantic Trade and Investment Partnership

The Transatlantic Colossus: Global Contributions to Broaden the Debate on the EU-US Free Trade Agreement
''A collaborative publication with over 20 articles on the global implications of the TAFTA , TTIP'' {{Free trade agreements of the United States , state = uncollapsed

Transatlantic Transatlantic, Trans-Atlantic or TransAtlantic may refer to: Film * Transatlantic Pictures, a film production company from 1948 to 1950 * Transatlantic Enterprises, an American production company in the late 1970s * ''Transatlantic'' (1931 film), ...

United States–European Union relations Proposed free trade agreements Treaties entered into by the European Union Free-trade areas Canada–European Union relations Mexico–European Union relations Transatlantic relations

Current and pending trade agreements between proposed members

EU-US trade

See also

References

External links