Established in 1980 to reflect the increased attention on trade policy and promotion, the U.S. International Trade Administration’s (ITA) mission is to create prosperity by strengthening the competitiveness of U.S. industry, promoting trade and investment, and ensuring fair trade and compliance with trade laws and agreements. ITA has a dedicated workforce of almost 2,400 people in the United States and abroad to accomplish this mission. These ITA employees serve their customers and stakeholders through five program units: 

Created in 2007 the Transatlantic Economic Council (TEC) is a political body to oversee and accelerate government-to-government cooperation with the aim of advancing economic integration between the European Union and the United States of America.

The United States and the European Union (EU) share an extensive, dynamic, and for many a mutually beneficial political and economic partnership. A growing element of that relationship is the role that the U.S. Congress and the European Parliament (EP) have begun to play, including in areas ranging from foreign and economic policy to regulatory reform.

Since its launch in 1992, the Transatlantic Policy Network (TPN) has consistently sought to help define the transatlantic relationship in the post-Cold War world by promoting the closest possible partnership between the governments and peoples of the European Union and the United States.

The Alliance consists of nine organizations (Business Europe representing employers’ group, EuroChambres, European Services Forum, European Association of Craft, Small and Medium Size Enterprises, Transatlantic Business Council, Transatlantic Policy Network, American Chamber of Commerce to the EU, Amchams in Europe, U.S. Chamber of Commerce).   The move to create the European Business Alliance for TTIP follows a similar action taken in April 2013 by American corporations, which launched the US Business Coalition for Transatlantic Trade.

The Trans-Atlantic Business Council’s mission is to (1) promote a barrier-free transatlantic market that contributes to economic growth, innovation, and security; (2) foster discussion and the exchange of ideas among business and government leaders; and serve as a platform for engaging others in the global economy.

The recently launched Business Coalition for Transatlantic Trade (BCTT) seeks to promote growth, jobs, and competitiveness on both sides of the Atlantic through an ambitious, comprehensive and high-standard trade and investment agreement between the United States and the European Union.

The Transatlantic Consumer Dialogue (TACD) is a forum of US and EU consumer organisations which develops and agrees on joint consumer policy recommendations to the US government and European Union to promote the consumer interest in EU and US policy making. The aim of the TACD is to provide a formal mechanism for EU and US consumer representatives to input to EU and US political negotiations and agreements as well as explore ways of strengthening the EU and US consumer view at the international level.

The trade deal between the U.S. and the EU  will undoubtedly provide enormous opportunities for both the EU and American industry. The benefits to businesses on both sides of the Atlantic will most certainly come from the elimination of tariffs, in particular in those sectors where they have been remarkably high. But tariffs alone have not been the only barrier to trade. Most benefits for the industry, in fact will mainly derive from the smoothing out of the regulatory differences that so far have been an impediment to trade.

Political and economic integration schemes have long been a staple of Latin American foreign policy. But changes in the regional and global economy since the early 2000s have created new incentives for the reform of global governance mechanisms to reflect the new constellations of political and economic power.