CFA believes that close cooperation between the US and the EU is helpful to address common challenges and ensure that the transatlantic marketplace is safe and fair for consumers. As we said in our written comments to the United States Trade Representative in May, consumer protection is not a barrier to trade; it strengthens trade by instilling confidence and trust in the marketplace. When consumer protection is inadequate, markets fail, as the recent economic crisis has so vividly demonstrated. Therefore, trade pacts must have at their center the advancement of consumer well-being.