A fundamental fear of globalization is the greatest threat to the success of the Transatlantic Trade and Investment Partnership (TTIP), said Marie Kasperek, assistant director of the Atlantic Council’s Global Business and Economics Program.
Kasperek joined Fran Burwell, vice president and director of the Future Europe Initiative at the Atlantic Council, to discuss the future of TTIP under US President-elect Donald Trump. While Burwell said TTIP is not dead, merely “on life support,” she asserted the importance of the deal for the US economy, describing how not only large companies, but small-to-medium enterprises can benefit from free trade.
However, a major hindrance to free-trade deals is the lack of understanding and fear of globalization, according to Kasperek. “People are scared,” she said.
In a Facebook Live interview, both Kasperek and Burwell emphasized the need for policymakers to make their message about the benefits of free trade more accessible.
Rachel Ansley is an editorial assistant at the Atlantic Council.