Trade deal could boost Maine economy
A free-trade agreement being negotiated between the United States and European Union could substantially increase the number of Maine jobs and exports over the next 13 years.
The Portland Press Herald reported that the Transatlantic Trade and Investment Partnership, if implemented, would simplify certain regulatory controls for Maine businesses.
According to an economic impact study commissioned by the British Embassy, the trade deal would create 3,270 new new jobs in Maine and increase exports to the EU by 23.7% over the next 13 years. Over $364 million worth of goods were exported from Maine to the EU in 2012, the newspaper said.
Despite optimism for how the deal could impact Maine, some have expressed concerns over the deal’s possible negative impact. State Rep. Sharon Treat (R-Hallowell), a member of the Maine Citizen Trade Policy Commission, said the deal could be detrimental because it would encourage increased U.S. exports of oil and natural gas.
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