Speeches and Official Announcements
Ambassador Michael Froman Testifies Before House Ways & Means Committee
This morning USTR Michael Froman addressed the House Ways and Means Committee on the Obama adminstration’s trade policy. He stressed that all efforts underway are designed to: expand US exports, to level the playing field for American businesses, and to ensure existing trade rules are fully enforced. He also made clear that the administration will ask for fast-track Trade Promotion Authority in the coming months.
TTIP FAQ: The Negotiation Phase
Dutch MEP Marietje Schaake (ALDE) has put together an excellent webpage outlining the next steps in the negotiating process, conclusions of the first round of talks, some key figures in terms of the benefits of TTIP, and some potential sticking points as the discussions move forward. A must-read and bookmark.
News
Regulatory Rift Develops Globally Over Financial System | Wall Street Journal
Policymakers are increasingly championing different tactics for protecting the financial system from future economic troubles. The US, Britain, and Switzerland have promoted mandatory adoption by banks of greater capital holdings, while EU regulators have been more interested in disincentivizing risky lending behavior and prosecuting bankers. This regulatory divergence has the potential to cause problems for both the financial industry and the various goverrnments in charge of implementing these new rules.
German Industry Believes in Free Trade | Der Tagesspiegel
The Federation of German Industry (BDI) believes that “the [TTIP] negotiations will certainly lead to a [positive] result.” BDI members cite the necessity of uniform industry standards in the food and automotive industries as major factors that lead them to believe negotiatiors will be successful. Text in German.
Pascal Lamy Questions US-led Regional Trade Talks | Financial Times
Pascal Lamy, the outgoing leader of the WTO, expressed quiet skepticism about the pursuit regional trade agreements. While noting that they can be often stepping stones to “deeper integration” globally and jumpstart future multilateral efforts, agreements that the US is pursuing (TTIP and TPP) on regulatory standards could actually complicate the process of concluding a comprehensive global agreement.
EU-US Survey Reveals Massive Support for Trade Deal | EurActiv
A survey of 700 policy leaders in the US and EU yielded very favorable results for the future of TTIP. 74% of the respondents are in support of passing TTIP and 77% believe that this deal will lead to further collaboration.
Recent Analysis
On the Outs – An Early Geoeconomic Conundrum for the US-EU Trade Deal | DGAP
As the largest bilateral free trade agreement in history is negotiated between the EU and US, neighboring trading partners including Canada, Mexico, and Turkey are anxious to determine their role in the process according to Tyson Barker for the German Council on Foreign Relations.
US-EU Trade Deal a Challenge for Agriculture | Farm Futures
Farm Forum participants were cautiously optimistic that the TTIP free trade agreement will ultimately be positive for US agricultural interests. Panelists noted that many sectors were primed to increase exports to Europe, having long been denied full access. However, they noted that substantial hurdles remain, including regulations for GMO crops and disparate food safety regulations.
Economic NATO | La Jornada
Jorge Eduardo Navarrete considers the implications of the TTIP free trade agreement for Latin America in today’s edition of Mexico’s La Jornada. Noting the unprecedented scope and detail of the agreement, he is convinced that the result will have a significant impact on the Latin American economy. Regardless of the outcome, the start of TTIP negotiations should be a wake-up call to Latin America to further its own efforts at region integration. Text in Spanish.
Towards Transatlantic Free Trade | French-American Foundation
Atlantic Council board director Paula Stern, chairwoman of the Stern Group and former chairwoman of the US International Trade Commission passionately defended the cause of TTIP and the importance of the agreement for France, Europe, and the US at a speech to the French-American Foundation.