EU, US agree to push for trans Atlantic trade deal

Biggest bilateral trade deal would add 0.5% to EU’s economic output.

Trade talks with the US to begin in the summer.

BRUSSELS, Belgium — The European Union and the US have agreed to pursue talks for a trans-Atlantic free trade deal.

The 27-country EU said that such an agreement would be the biggest bilateral trade deal ever negotiated and hoped it could add 0.5% to the EU’s economic output.

EU Trade Commissioner Karel De Gucht said that initial talks could start by summer.

“It will not be easy,” EU Commission President Jose Manuel Barroso said, but added the result would be “win-win” situation.