US urges greater speed in trans-Atlantic trade pact talks with European Union

Economic Indicators Associated Press

The United States wants to speed up talks on a vast trans-Atlantic trade pact with the European Union.

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Chief U.S. negotiator Dan Mullaney told reporters Friday that "if we're going to get this negotiation done in a reasonable period of time, we're going to need to see movement."

His comments came at the end of an eighth round of talks on the Transatlantic Trade and Investment Partnership. Both sides have pledged to hold two more rounds before the end of July plus inter-session talks between experts.

Proponents of a trans-Atlantic deal say it would vastly boost trade and employment by creating a bloc of 800 million consumers that account for around half the world's economic output.