TTIP and Small Business:
a new Atlantic Council Project
As negotiations towards the Transatlantic Trade and Investment Partnership progress, the Atlantic Council is researching the prospective effects of TTIP on small and medium-sized enterprises in both the EU and the US. While SMEs account for the great majority of businesses–and job creation–in both the US and EU, they often face significant barriers when doing business across the Atlantic. Therefore, the Council is conducting a survey in order to find out about the specific challenges that SMEs encounter on both sides of the Atlantic in order to formulate policy recommendations to ensure that EU and US policy-makers craft an SME chapter in TTIP that allows SMEs to take full advantage of the agreement’s opportunities. (National Small Business Association)
Please find the online survey for US small business executives here. The European survey is available here.
Thank you so much for taking 5-10 minutes out of your day to help ensure our policy recommendations match the real world on-the-ground problems that small businesses are facing each day. Please feel free to share this with any interested colleagues.
Speeches and Official Announcements
President Obama’s Speech after the US-Africa Leaders Summit
During last week’s US-Africa Summit, the President announced a new $33 billion initiative to inspire new US trade and investment in Africa. This is designed to help spur African development and support tens of thousands of American jobs. (The White House)
Remarks by the President at a DSCC Event
President Obama delivered remarks on job growth, the ongoing economic recovery, energy production and the housing sector yesterday in Massachusetts. He emphasized that ‘Obviously, our economy doesn’t work in isolation’, elaborating on the crises in Ukraine and Iraq, and the impact of events overseas on the future of the American economy. (The White House)
Treasury Secretary Jacob J. Lew on the US Economy and Relations with African Countries
Secretary Lew delivered remarks on Tuesday at the US-Africa Business Forum on the state of the US economy and the importance of capital markets to private sector investment in African economies, underscoring that “open capital markets are vital to channeling savings and investment efficiently, and they provide safe opportunities for African investments in Africa.” (US Treasury)
US Trade Representative Michael Froman Promotes the Benefit of Exporting and President Obama’s Historic Trade Agenda in Des Moines, Iowa
Ambassador Froman recently spoke in Iowa, discussing the idea of economic opportunity through Made-in-America exports. He emphasized that the administration’s economic strategy is to expand opportunity for all Americans, as international trade and exports have been essential to fuel the ongoing economic recovery. (USTR)
See Froman’s op-ed on the opportunities for Iowa from international trade in the Des Moines Register here.
News
One Million US Jobs Supported by UK Investment and TTIP Will Create More
A huge amount of American jobs rely on investment flowing from across the Atlantic – and the implementation of an ambitious TTIP could lead to many more. The UK has strong ties with the US, due to the unique trading relationship between the two countries. This has led to companies on both sides of the Atlantic pushing for TTIP. (International Business Times)
Germany Adds to Eurozone Worries
Recent developments in Ukraine and the Middle East have hit consumer confidence levels in Germany. Economic data to be released on Thursday are expected to show stagnated GDP growth of just 0.1% during the second quarter, with warnings that escalations of regional geopolitical tensions could cause further slowing. (Financial Times)
Renzi Defends Pace of Italian Reform
Matteo Renzi, Italy’s prime minister stated that the Italian economy is well on track to meet its reform and budgetary targets for the year, despite some downturns in the economy in the second quarter. In his interview with the Financial Times, he defended the pace and depth of his reform efforts. (Financial Times)
NFTC Chief Says Administration Can Still Overcome Republican TPA-TPP Link
Last week, national Foreign Trade Council President Bill Reinsch asserted that the Obama administration may still manage to circumvent the demands made by several House Republicans that Congress pass Trade Promotion Authority (TPA) before finalizing a Trans-Pacific Partnership (TPP) deal if it provides enough concrete benefits and proves too good to pass up. (World Trade Online)
Recent Analysis
What’s the Hold-Up? In the US, Fast-Track Presidential Authority Needed to Set Trade Legislation in Motion
In his opinion piece, Robert J. Kabel of British American Business elaborates on the importance of passing Trade Promotion Authority (TPA) to give President Obama the legislative authority necessary to send trade agreements to Congress for up-or-down approval to finalize the three currently pending trade agreements, TTIP, TPP, and TISA in a timely fashion. (British American Business)
Save TTIP!
Last week’s Luxemburger Wort editorial talks about the importance of the conclusion of TTIP for the recovery of both the European and US economy, calling it a ‘free of charge economic support program’ that both sides must take advantage of. The author stresses that both the public and the governments on both sides of the Atlantic need to realize that their window of opportunity to conclude this ambitious trade deal will close soon – and with it the possibility to uphold their role of setting global rules and standards. – Original article written in German (Luxemburger Wort)
Free Trade- Yes but Under Certain Conditions
This article, featured in the German newspaper Sueddeutsche, is part of a weeklong series on TTIP, intended to tackle the myths that are currently circulating in German public opinion. The newspaper will address a new contentious issue every day, providing fact sheets, interviews, and reports. The first article called ‘Free Trade- yes but under certain Conditions’, addresses the misperceptions and prejudices that Germans have towards the United States and how this keeps critics of TTIP from engaging in constructive criticism or an educated debate on the agreement’s merits. Instead, they simply seem to want the ‘scalp off the head of capitalism’. The author employs a more balanced view, supporting TTIP while encouraging the governments to do a better job addressing the concerns of their citizens. – Original article written in German (Sueddeutsche)
US Must Champion its Ties with Africa
This week’s Financial Times’ editorial makes a strong case for the US to step up its game in Africa. Following last week’s US-Africa summit in Washington, the authors criticize the US government for not devoting enough attention to their African counterparts, and being slow to respond to an economic as well as societal evolution in Africa. This omission encouraged other nations, especially China, to deepen their economic ties with Africa. This means that if the US wants to maintain their influence over political and security developments, they need to step up and play a larger economic role in Africa. (Financial Times)
Natural Gas: A New Hope for TPP
In her opinion piece, Atlantic Council contributor Katelyn Lamson highlights the importance of energy to the negotiations and conclusion of the Trans-Pacific Partnership. She argues that any agreement including terms on energy trade has the potential to dramatically change energy security throughout the region. She looks at Japan, Russia, and the United States in particular, examining the impact that freer energy trade would have on the countries. (Atlantic Council)
Upcoming Events
Seventh Round of TTIP Negotiations – September 29 – October 3 in Washington DC – a political stock-taking between Ambassador Froman and Commissioner De Gucht will accompany the talks
EU Policy Agenda for Social Enterprise: What Next? – September 3 in Brussels; hosted by the European Economic and Social Committee – More Information
Jobs and Economic Growth for Atlanta: How TTIP Will Help – September 10 in Atlanta, GA; hosted by the Trans-Atlantic Business Council – More Information
TTIP Road Show, Edinburgh: The US-EU Trade Negotiations and the Coalition for Transatlantic Business – September 23 in Edinburgh, Scotland: hosted by British American Business – More Information
Launch of new Atlantic Council Publication on TTIP’s Benefits for Small and Medium-sized Enterprises – October 9 – More Information forthcoming
AmCham EU’s 31st Annual Competition Policy Conference – October 14 in Brussels – More Information
Annual Transatlantic Digital Economy Conference – October 16 in Brussels; hosted by AmCham EU – More Information forthcoming