USA HISTORY

Detailed explanation-1: -Deep Economic Ties The EU-US economic partnership is the single most important driver of global economic growth, trade, and prosperity. The EU and the United States together account for 42 percent of both global GDP and global trade in goods and services.

Detailed explanation-2: -The United States remains the EU’s number one trading partner in services. Bilateral trade in services reached a record in 2021 and accounted for more than 500 billion euro.

Detailed explanation-3: -The EU represents one in a series of efforts to integrate Europe since World War II. At the end of the war, several western European countries sought closer economic, social, and political ties to achieve economic growth and military security and to promote a lasting reconciliation between France and Germany.

Detailed explanation-4: -General Advantages Stimulus to GDP growth, more jobs, higher wages and pensions; Growing internal market and domestic demand; Free movement of labour, goods, services and capital; Free access to 450 million consumers.