US-EU talks mean challenges, chances

As the United States and the European Union prepare to begin talks in July on a free-trade deal, European experts noted that this would present China with challenges and opportunities.

US President Barack Obama, standing alongside EU leaders and British Prime Minister David Cameron, on Monday hailed the proposed trade agreement as a "potentially groundbreaking partnership" that would deepen ties between two areas that account for around 45 percent of the global economy.

The aim is to reach a comprehensive deal that would remove all tariffs and develop uniform rules and standards on a wide range of goods and services that would bolster trade, investment and jobs.