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The U.S. won't enter trade talks with the European Union until it is sure it can reach an agreement that would lead directly to economic growth, U.S. Trade Representative Ron Kirk said Tuesday.
Kirk said the U.S. and the EU can't rely on good faith alone for talks on an ambitious new trade pact, but must be realistic as well.
Earlier in May, EU Trade Commissioner Karel De Gucht proposed starting negotiations with the U.S. early next year on a "comprehensive" trade and investment deal aiming to get as close as possible to full tariff elimination on industrial and agricultural products.
He and Kirk plan to provide leaders with an interim report on progress next month, with plans to issue final recommendations by the end of the year.
Kirk was speaking at the London School of Economics on prospects for trade and investment between the U.S. and the European Union.
-By Alex Brittain, Dow Jones Newswires; +44 20 7842 9203; alex.brittain@dowjones.com
(Tom Barkley in Washington contributed to this article.)
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