Transatlantic Economic Partnership

The Transatlantic Economic Partnership (TEP) was an initiative launched at the May 1998 London Summit which was designed to give new impetus to EU-US co-operation in the field of trade and investment within the framework of the New Transatlantic Agenda (NTA).^[1]

References

1. Lee McGowan, David Phinnemore - A Dictionary of the European Union - 2015 Page 493 1317445163 "As a consequence of this, in May 1998 a Transatlantic Economic Partnership was initiated. In its draft Action Plan for the Partnership, the European Commission proposed that the European Union (EU) and the USA stimulate trade liberalization at worldwide level. Efforts to achieve such a goal have often been hindered by EU–US trade disputes. Equally, relations have often been soured as a consequence of major differences over, for example, the Middle East and the Iraq War.