Trade Agreements Eu Us

The European Commission says TTIP would boost the EU economy by 120 billion euros, the US economy by 90 billion euros and the rest of the world by 100 billion euros. [7] According to Anu Bradford, a law professor at Columbia Law School, and Thomas J. Bollyky of the Council on Foreign Relations, TTIP aims to “liberalize one-third of world trade” and create millions of new jobs. [8] An article in Dean Baker`s Guardian of the AMERICAN think tank Center for Economic and Policy Research[10][11] argued that the economic benefits per household would be relatively small. [12] According to a report by the European Parliament, the impact on working conditions ranges from job gains to job losses, depending on the economic model and assumptions used in the forecasts. [13] The Transatlantic Economic Partnership is an important driver of global economic growth, trade and prosperity and is the largest, most integrated and longest regional economic relationship in the world. The many reasons for supporting this relationship come from an economic point of view, from a geopolitical point of view, from a business utility perspective, from regulatory cooperation and from prospects for technological innovation. In 2018, the United States had a trade surplus with the EU of $60 billion. The Guardian called TTIP “the most controversial trade deal ever negotiated by the EU.” [18] TTIP negotiations are criticised and rejected by some trade unions, charities, NGOs and environmentalists, particularly in Europe. [14] [15] The Independent summarizes the negative effects of TTIP as “reducing regulatory barriers to large companies, food security, environmental legislation, banking regulation and sovereigns of different nations”[16] or more critical than “the attack on European and American companies by transnational groups”. [16] German economist Max Otte stated that proposed arbitration (ISDR) and the protection of foreign investment would mean a “total deviation from policy”[19] and that free trade agreements on the labour economy would generally apply lower standards and that the TTIP would put European workers in direct competition with the Americans (and, in fact, under the North American free trade agreement with the Mexicans). which would have an impact on European social models.

[19] Otte also concluded: “We really don`t want the social system of these countries [U.S. and Mexico] here [in Europe].” [19] Successive initiatives by European policy-makers and the US government have been: the creation in 1995 of a business interest group, the Transatlantic Trade Dialogue (TABD) by authorities on both sides of the Atlantic; 1998, the creation of an advisory committee, the Transatlantic Economic Partnership; The Transatlantic Economic Council was established in 2007, bringing together business representatives from both sides of the Atlantic to advise the European Commission and the US government – and finally, in 2011, the creation of a high-level panel of experts whose conclusions, presented on 11 February 2013, recommended the opening of negotiations for a large-scale free trade agreement.

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