Economic Relations
U.S. Economy Stalls, but Maintains Its Growth Potential
The U.S. Department of Commerce reported that the U.S. gross domestic product (GDP) shrank at an annualized rate of 0.1 percent during the last quarter of 2012, according to its initial estimate, citing a reduction in U.S. government spending, private inventory investments, exports and state and local government spending. The report on the GDP, which is the sum of all goods and services produced in the country, also noted increased American consumer spending. At the White House, press secretary Jay Carney told reporters January 30 that the reduction in U.S. economic growth reflects a “sharp drop in particular in defense spending,” with the reduction of American military activities in Iraq and Afghanistan and uncertainty over whether the U.S. Congress will reach agreement to avoid mandatory defense spending cuts that are scheduled to go into effect March 1. Read the full article.
- Remarks by the President (2013-02-05)
- Weekly Address: A Balanced Approach to Growing the Economy in 2013 (2013-02-02)
- Weekly Address: Working Together in the New Year to Grow Our Economy and Shrink Our Deficits (2013-01-05)
- Keynote Remarks: Asian Regional Economic Integration (2012-12-12)
- Delivering on the Promise of Economic Statecraft (2012-11-15)
- Remarks by Jennifer McGowan, U.S. adviser, on Countries in Special Situations, to the UN General Assembly's Second Committee (Economic and Financial) (2012-10-17)
- Remarks of General Counsel United States Department of Commerce Cameron F. Kerry to the European Parliament, Interparliamentary Committee Meeting on The Reform of the EU Data Protection Framework: Building Trust in a Digital and Global World. Session VII: Data Protection in the global context - The transatlantic dimension (PDF 86k) (2012-10-10)
- Public Private Partnerships & Social Entrepreneurship-Building Solutions for Good (2012-09-10)
- Economic Rebalance: The Role of Infrastructure in the Success of the Arab Spring (2012-09-06)
U.S.-EU Highlights
Vice President Joe Biden Meets European Parliament President Martin Schulz in Washington
Vice President Biden welcomed the President of the European Parliament, the Honorable Martin Schulz, to the White House on November 28, 2012. The Vice President emphasized the importance the United States places on continued close engagement and cooperation with the European Parliament. The Vice President and President Schulz discussed the economic challenges and opportunities facing the United States and the European Union, stressed the importance of the Transatlantic partnership, and highlighted their mutual desire to strengthen job-supporting Transatlantic trade and investment ties. Readout available here.
- United States, European Union Advance Work to Promote Open, Transparent, and Nondiscriminatory Investment Policies (2012-10-24)
- EU-U.S. Expert Workshop on Raw Material Flows & Data: Public Summary Document (2012-09-14)
- U.S. Treasury Secretary Timothy Geithner and German Finance Minister Wolfgang Schäuble call for a continuation of global and European reform efforts (2012-07-30)
- Press Roundtable in Athens, Greece (2012-07-27)
- U.S., EU Hold Workshop to Encourage SME Participation in Transatlantic Trade (2012-07-12)
- Treasury's Geithner at G20 on Financial Situation in Europe (2012-06-19)
- Readout of President Obama's Calls with European Council President Van Rompuy and Mexican President Calderon (2012-06-13)
- Statement by Secretary Tim Geithner on Spain (2012-06-09)
- Remarks by Deputy Assistant Secretary Mark Sobel at the Woodrow Wilson Center on Mexico and the G-20 Leader’s Summit (2012-05-01)
- United States, European Union Reaffirm Commitment to Open, Transparent, and Non-Discriminatory Investment Policies (2012-04-10)
- 21st Century Economic Statecraft (2012-04-09)
- Readout of the President’s Phone Call with President Hollande of France (2012-06-27) | Readout of the President’s Phone Call with Prime Minister Monti of Italy (2012-06-25)
- Remarks at the U.S.-Spain Council (2012-06-24) | Statement by Secretary Tim Geithner on Spain (2012-06-09)
- Readout of the President’s Phone Calls with President Hollande (2012-06-08)
- Readout of the President’s Phone Calls with Prime Minister Monti and Chancellor Merkel (2012-06-06)
- IMF Chief: U.S. Economy Strongly Linked to Global Recovery (2012-04-03)
- Written Testimony of Secretary Geithner before the House Committee on Oversight and Government Reform on "Europe's Sovereign Debt Crisis: Causes, Consequences for the U.S. and Lessons Learned" (2012-03-20)
- Remarks by Deputy United States Trade Representative Michael Punke at the U.S. Chamber of Commerce-BusinessEurope Joint Conference (2012-03-19)
- Examining the European Debt Crisis and its Implications (2012-02-16) | Written Testimony of Deputy Assistant Secretary Mark Sobel Before the House Oversight and Government Reform Subcommittee on TARP, Financial Services and Bailouts of Public and Private Programs: “What the Euro Crisis Means for Taxpayers and the U.S. Economy” (2011-12-16)
- Remarks by Deputy Assistant Secretary Mark Sobel at the European Financial Services Conference (2012-02-09)
- Fact Sheet on the United States' Relationship with the European Union: An Enduring Partnership (2011-12-01) | Op-ed by President Obama: A firewall to stop Europe's crisis spreading (2011-10-28) | Statement by the President on Europe (2011-10-27)
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