Trade Agreement Between Eu And Us

The Transatlantic Trade and Investment Partnership (TTIP) is a proposed trade agreement between the European Union and the United States with the aim of promoting trade and multilateral economic growth. According to Karel de Gucht, EU Trade Commissioner between 2010 and 2014, TTIP is the largest bilateral trade initiative ever negotiated, not only because it concerns the world`s two largest economies, but also “because of its potential global reach to set an example of future partners and agreements”. [1] As most tariffs between the EU and the US are already at a minimum level, negotiations focus on removing regulatory barriers to trade. According to official calculations, this deregulation will contribute to 80% of the total profits of TTIP companies, but among the “barriers” to be removed are some of the most important rules and standards that protect public health, workers` rights and the environment. Negotiators also have an interest in removing rules that protect the local economy and jobs from unfair competition, with potentially devastating consequences. The European Commission`s official assessment in 2013 calculated that TTIP would directly result in the loss of at least one million jobs in the EU and the US. • the establishment of compatible regulatory systems in key sectors to address regulatory disparities that unnecessarily limit trade; At France`s request, trade in audiovisual services was excluded from the EU`s negotiating mandate. [131] The European side insisted that the agreement include a chapter on the regulation of financial services. But the U.S. side, which recently passed the Dodd-Frank Act in this area, opposes it.

[132] U.S. Ambassador to the European Union Anthony L. . . .