Speeches & Official Announcements

Secretary Kerry’s Speech at the SelectUSA Investment Summit

“The Trans-Pacific Partnership and Transatlantic Trade and Investment Partnership are two of the three biggest free trade agreements ever contemplated. And together, they would be an unprecedented step towards a more integrated investment regime that would advance our shared prosperity agenda.” – John Kerry

The US Secretary of State, John Kerry, stressed the great potential of TPP and TTIP, while acknowledging the flaws of some previous US free trade agreements. Kerry pointed out, however, that each trade deal has benefited American workers and companies. He noted that TPP and TTIP would bring about closer regional integration and foster stronger regulations and standards across the Pacific and the Atlantic. In addition to leveling the playing field for US companies, both agreements would also align the geostrategic objectives of the United States and its partners. (US Department of State)

The Commission’s Future Trade Strategy

“First, a new approach will need to work on strengthening people’s trust in trade policy. In
particular we will need to look at how to deal with the issue of regulation. ” – Cecilia Malmström

According to Malmström, trade builds prosperity in the world and advances European values. On TTIP, the Commissioner acknowledged that there are many reservations against the trade agreement in the European public, which have to addressed. However, Malmström added that “TTIP and other trade deals will protect the European way of life.” In addition to regaining the public’s support and trust for future free trade legislation through improved transparency, the Commissioner also talked about new ways of reconciling trade with labor, human rights, and environmental regulations. (European Commission)

Former Secretaries of Commerce Urge Congress to Pass Trade Promotion Authority

“As former Secretaries of Commerce, we strongly support Trade Promotion Authority for President Obama. From our experience, it is critically important for American businesses to access new customer markets while staying competitive in the world economy. American companies grow and succeed in the global market place through high-quality high-standard trade agreements that help our firms gain access to new overseas markets..”

A bipartisan group of ten former Secretaries of Commerce strongly encouraged Congress to quickly pass Trade Promotion Authority without confusing the issue by insisting on currency manipulation provisions. Advancing the trade agenda will create more opportunities for American businesses to export their goods and create well-paying jobs in the United States. (Commerce.gov)

Remarks by the President at the SelectUSA Investment Summit

“We’re working together on a bipartisan Trade Promotion Authority and strong new trade deals from Asia to Europe that are not just free but are also fair and reciprocal — trade deals that help businesses grow our exports and put American workers first .” – Barack Obama

As part of his speech at the SelectUSA Investment Summit, President Obama pushed for the conclusion of TPA with bipartisan support to be able to finalize TPP and TTIP. The President also voiced his support for the reauthorization of the Export-Import Bank, arguing that the bank is an important mechanism that helps businesses to compete in the global market place. (White House)

Trade as a Powerful Engine for Growth and Jobs in Europe

“In the European Union 31 million jobs – over 14% of total employment – depend on exports to third countries and each additional ???1bn of exports supports 14,000 additional jobs across the EU.” – Press Release European Commission

The European Commission touts the benefits of free trade agreements in general, and specifically points to the progress of its FTA with Korea. For instance, since 2011 EU exports of goods to Korea have increased by 35%. The success of this agreement is especially important because the EU-Korea trade deal is considered as an “ambitious” FTA that shares similarities with proposed trade agreements such as TTIP. (European Commission)


TTIP Healthcare Chapter to Focus on Medicines Approval

While the inclusion of a healthcare chapter in TTIP has triggered heated arguments from European health organizations, Adrian van den Hoven, Director-General of the European Generic and Biosimilar Medicines Association, notes that regulatory cooperation between the FDA, EMA, and European Commission will lower regulatory costs while maintaining high standards. Offering physicians and consumers additional choices, which are proven safe on either side of the Atlantic, would be a major step forward for the industry. (Euractiv)

Lew Says Fast-Track Vital to US Economy

US Treasury Secretary Jack Lew noted that TPA is vital to protect American workers and promote America’s businesses, while strengthening middle class income security. Secretary Lew called for quick progress to be made to be made on all trade legislative fronts – from TPA, TPP, and TTIP to renewing the charter of the Export-Import Bank.(TheHill)

Recent Analysis

TTIP’s Lack of Energy

David Livingstone remarks that significant, and puzzling, disagreements exist between the US and EU over what role energy should play in TTIP. He notes that the EU must insist for the inclusion of an energy chapter within the accord, despite the US’s skepticism over its importance. If the EU and US sign a free trade agreement, liquefied natural gas exports will be approved nearly automatically. However, Livingstone notes that it is not certain that the EU will accept the environmental risks associated with unconventional hydrocarbons, like LNG. (Carnegie Europe)

Thanks to TTIP, France Hopes to Export More Cheese and Wine to the United States

Gerard Calbrix, economist from the French Association for Dairy Transformation, notes that the industry is ready for the abolition of tariffs to increase their exports to the United States, France’s most important market outside the EU. Similarly, French wine producers hope to eliminate export barriers and clear up disagreements surrounding geographic indicators, in order to export Champagne and Sauterne wine to the United States.
(La Tribune) – Original Article in French

Data Is the Blood Running Through the Veins of the Networked Society

Rene Summers, Director of Government and Industry Relations at Ericsson, notes that the “Networked Society,” or the prevalence of data in everyday life, is “a transformative augmentation of a society’s capabilities to shape its physical, economic, social, and intellectual environment to its own enhanced ends.” Paired with responsible public policy choices, the Networked Society can create a more equal society and create wide-ranging economic opportunities. These public policy issues include privacy regulation and maintaining free cross-border data flows. In Summers’ opinion, privacy should be recognized as a fundamental right, while policy should also prioritize the free exchange of commercial data. (Ericsson)

It’s Time for the Government to Talk to the British People about TTIP

Member of Parliament for Glasgow North Anne McKechin notes that despite TTIP’s numerous potential benefits, the UK Government has done very little to inform the public about it. She notes the necessity to engage with the public and provide reassurance to those who are worried that TTIP could create a race to the bottom in terms of working conditions and uninvited attacks on British public services. Keeping the public informed should not just be the mandate of the EU Trade Commissioner: all of the UK government has a duty to let the public know what TTIP would really mean for public services and the economy in general. (Huffington Post)

The Economic Development and Jobs Growth Tool the Anti-Trade Lobby Loves to Hate; Why ISDS Deserves More Than a Little Respect

Despite the powerful benefits of FDI, many are still waging a strong fight against a basic tool of good governance, and investor protection, according to Linda Dempsey. While the anti-ISDS lobby claims that it undermines a government’s broad policy choices, Dempsey notes that they are wrong–ISDS can never overturn any law or regulation. On the contrary, ISDS and the investment rules that it enforces fosters high-quality FDI that catalyzes poverty elimination and global growth, while ensuring all companies are treated equally despite their country of origin. (Shop Floor)

CBI Boss Demands Quickfire Transatlantic Trade Deal

John Cridland, Director-General of the CBI, voiced his strong support for TTIP during his visit to Washington this week. He urged negotiators on both sides of the Atlantic to get a treaty signed before a possible British referendum on EU membership could jeopardize the deal, or Britain’s access to a transatlantic marketplace. (The Times)

Upcoming Events

Trade and the Digital Economy: Opportunities for US-Japan Global Leadership – March 30 in Washington; hosted by the Brookings Institution – More Information

The Atlantic Summit on the Economy – April 23 in Washington; hosted by The Atlantic Live – More Information

2015 Global Supply Chain Summit – May 12 in Washington; hosted by the US Chamber of Commerce – More Information

The Next Round of TTIP Negotiations will take place in Washington the week of April 20.