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obama-SOTU
This is already the 2nd time that I am writing a blog about a speech by a world leader. Last time I wrote about David Cameron’s EU Speech in late January 2013.
Both of the posts however are written before the speech.

This year’s State of the Union by Obama will obviously be focused mostly on the economy and of course gun control in the United States.

One thing, that I am hoping and am very eager to hear in his address is the announcement of negotiations on a Free Trade Agreement between the United States of America and the European Union.
US Vice-President Joe Biden mentionned it during the Munich Security Conference. (You can view it here)
Biden also talked a lot about the Euro-Atlantic Security partnership, NATO and how Europe is still the most important partner to the United States.

In his 1st term Obama seemed like a non-EU president who is not that interested in European Affairs and does not see Europe as the focus of his foreign policy. With the declarations in Munich and the announcement of a Free Trade Deal with Europe Obama would change his reputation completely. Achieving such a grandiose free trade deal would also be a lasting part of his legacy. He could be remembered as the President who brought Europe and America closer together economically.

Before retiring Hillary Clinton also promoted the idea of a closer European-American economic partnership in November 2012. (Watch her speech at Brookings here)

During December 2012 many columnists wrote about the idea of such a free trade deal. An interesting one is an article by David Ignatius of the Washington Post. David Ignatius called it TAFTA – Trans-Atlantic Free Trade Agreement.

I am very much in favour of this idea. I was surprised to find out a couple of years ago that no such a deal exists yet. Liberalizing the trade would give a much needed stimulus to the economies on both sides of the North Atlantic in the European Union and in the United States. That is something both economies and politicians in those regions need.

The most significant reason why I am interested in this is the fact that my current thesis that I am writing deals exactly with this issue. I am writing about the future of the North Atlantic Economic Relations. When I chose the topic in september 2012, TAFTA was not being talked about so it is exciting to see it happen while I am writing my thesis and to write it on something current.

My thesis deals not only with TAFTA between the EU and the USA but deals with the entire North-American region including Canada. A similar deal between the EU and Canada has already been negotiated and should be signed soon. Not many ahve heard of it. It is called CETA – Comprehensive Economic and Trade Agreement – and it was supposed to be finisehd and signed for a long time.
The current Conservative Canadian government is eager to get it signed soon and join it with TAFTA as a part of some North Atlantic Economic Initiative.

As of the coming weeks and months I will be posting news and updates concerning North American Free Trade including Canada, USA and the European Union.

I am eager to read the news about the State of the Union speech tomorrow. I hope Obama will announce the free trade talks.
But as always, I am cautious. A free trade deal is an awesome idea, but agriculture will probably be exempt from it and it is likely to have a lot of common rules and restrictions which might have unforeseen negative effects that might negate the positives of free trade and of lowering of trade barriers.

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