Obama's Dream Team*

Vice-President: Senator Joe Biden 

Secretary of State: Senator Hillary Clinton

Ambassador to EU: ?

Co-Chair of Transatlantic Economic Council: ? 

US Trade Representative: Ron Kirk  

Chairperson of Council on Environmental Quality: Nancy Sutley 

Assistant to President on Energy and Climate Change: Carol Browner 

Ambassador to UN: Susan Rice

Secretary of Homeland Security: Janet Napolitano 

Attorney General: Eric Holder

Secretary of Treasury: Timothy Geithner 

Secretary of Energy: Steven Chu

Secretary of Defence: Robert Gates

National Security Advisor: General Jim Jones 

* As nominated - still to be confirmed by US Senate. 

Trade Figures 

US top exports markets 2007 (goods)

5. United Kingdom

6. Germany

8. Netherlands

9. France

 

US top imports markets 2007(goods)

5. Germany

6. United Kingdom

8. France

 

Goods 

EU-US goods trade, 2007 = €442 billlion

EU goods exports to US, 2007 = €261 billion

EU goods imports from US = €181 billion

 

Services  

EU-US services trade, 2007 = €266 billion

EU services trade surplus with US, 2007 = €11 billion

 

Investment 

EU direct investment in US, 2006 = US$1.11 trillion (half of EU's total direct investment flows)

US direct investment in EU, 2006 = US$1.12 trillion (59% of US' total direct investment flows)

US investment in Ireland, 2006 = US$13.3 billion (double entire US investment in South America)

Texas, California, New York = top three destinations for European foreign investment to US 

 

People  

EU firms employ 3.5 million workers in US = 58% of total employed by foreign companies in 2005

US affiliates employ 3.9 million workers in EU (2005)

 

Research and Development

EU-owned firms in 2005 spent US$20 billion in US

US-owned firms in 2005 spent US$18 billion in EU

 

Timeline 

1953: First US observers to the European Defence Community and European Coal and Steel Community nominated

1954: European Commission delegation to the United States established in Washington DC

1961: US mission to the European Economic Community established

1990: Transatlantic Declaration adopted, laying down principles for greater cooperation and consultation and establishing biannual summits

1995: New Transatlantic Agenda adopted as a framework for partnerships on peace and stability, democracy and development, global challenges and world trade. Spurs cooperation in the former Yugoslavia, the Middle East and the creation of Transatlantic Legislators' Dialogue and Transatlantic Business Dialogue

2007: Transatlantic Economic Council established to remove regulatory barriers to EU-US trade

 

At a glance... 

                              EU                                           US 

Area                      4.3 million km ²                     9.8 million km ²

Members              27 countries                            50 states   

Population           493 million                                306 million   

Languages           23                                            1 

GDP                       €12.875 trillion                         €9.449 trillion   

GDP per capita     €25,900                                   €31,000  

Sources: Eurostat, European Commission delegation in Washington, US Department of Commerce, http://ita.doc.gov/td/industry/otea/ttp/Top_Trade_Partners.pdf