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The European Union and the USA will soon begin [formality / formal] talks on a free trade agreement, [paving / pavement] the way for the biggest trade deal in history. The two trading [blocks / blocs] currently [account / accounting] for around half the world's economic output. European Commission President Jose Manuel Barroso said discussions could start [until / by] the end of June. The talks will involve [squares / rounds] of negotiations on the many sticking points between the two [economically / economic] powerhouses. Europe is likely to want greater access to many [key / lock] American industries such as telecommunications and transport. The USA [forgets / forbids] foreign ownership of these. The USA will want more involvement in European agriculture, which may not [please / thank] EU farmers.

EU-US trade is presently [worth / value] around €455 billion / $613 billion a year. [Estimates / Estimating] are that a trade deal could boost their annual [GDP / GOP] by 0.5%. Mr Barroso said: "A future deal between the world's two most important economic powers will be a [match-changer / game-changer] , giving a strong boost to our economies on [bother / both] sides of the Atlantic." He added: "These negotiations will [let / set] a standard…for the development of global trade rules." US President Barack Obama was [equated / equally] enthusiastic about a deal, which he spoke about in his State of the Union [address / mail] to the US Congress on Tuesday. He said an agreement would, "boost American exports, support American jobs and [destroy / level] the playing [field / pitch] in the growing markets of Asia".