China reassured about EU-US trade pact

EU trade chief: Deal could increase each side's GDP by half of 1 percentage point each year

China has "no reason" to worry about an ambitious free-trade pact being negotiated by the United States and the European Union, because the two are already its biggest trading partners, the EU's trade chief said.

Trade Commissioner Karel De Gucht was asked after a talk in New York on Tuesday about the proposed Transatlantic Trade and Investment Partnership, or TTIP, if the US and EU recognize that the scope of the pact - representing as much as a third of global trade - might make Chinese leaders nervous.