Formal trade talks will begin between U.S. and EU

Discussions between the U.S. and the EU for a wide-reaching trade deal are set to start this week in Washington, D.C. The U.S. has resisted European attempts to include financial services in the talks. Negotiations could also pressure China to continue to modernize its economy and open up to the rest of the world, experts say. "Our efforts in these negotiations are not aimed at any one country but at developing high standards and new disciplines that strengthen the international trading system and create a level playing field on which our workers and firms can compete," said Michael Froman, the U.S. trade representative.

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