The United States and the European Union, which already enjoy the world's biggest business relationship, resumed talks Monday on a deal to further grow two-way trade and investment, AP reported. The week-long bargaining session in Brussels was expected to discuss services, investment, energy and raw materials, and regulatory issues. Negotiators for both the Obama administration and the European Union say the expected payoff of the TTIP agreement is job creation and economic growth. The trade volume in goods and services between the two economies - representing almost half of global output - totaled 800 billion euros ($1.08 trillion) last year. A deal, which would cover manufacturing, services and agriculture, could include a reduction in tariffs. But negotiators say the biggest boon, to business and consumers alike, could come from trimming the red tape that often makes it difficult to buy and sell across the Atlantic.
