Transatlantic Economic Council

The Transatlantic Economic Council (TEC ) and the Transatlantic Economic Council is a council consisting of representatives of the U.S. and the European Union. Role is to coordinate economic cooperation between the two economies.

The TEC was founded during a US-EU summit on 30 April 2007 at the White House by U.S. President George W. Bush, the then Chairman of the European Council Angela Merkel and European Commission President Jose Manuel Barroso. The panel is led from a double top with one representative each from the EU and the United States. These currently include Michael Froman, National Security Representative for Foreign Affairs and Karel De Gucht, EU Trade Commissioner. The Council shall meet at least once a year.

The main task of the Council is to promote economic cooperation and partnerships and harmonizing market regulations. Furthermore, the Council should, for example, with international traffic matters (such as the Open Skies Agreement, as well as questions about the electric car ) deal, strategic oil reserves, defense policy, climate change or alternatives to animal testing. During the launch event a " Framework for Advancing Transatlantic Economic Integration between the European Union and the United States " was signed, which is the basis for the Board's work. In July 2007, the Council started its work officially.