How NSA Spying, Google and Chlorinated Chickens Are Pitting Germans Against Americans – And What to Do About It
In his excellent, in-depth opinion piece, Sigmar Gabriel, vice-chancellor of Germany, explains how the “chlorine chicken”  has come to symbolize German fears about TTIP. Instead of treating TTIP like a zero-sum game, the German public should be more confident and reasonable, and see TTIP as creating opportunities for reviving the transatlantic relationship after the NSA scandal. Gabriel believes that TTIP offers a unique chance to advance a shared transatlantic agenda to reach sustainable progress in energy supply, global standards, the digital agenda, and a fairer market that benefits all consumers. (Huffington Post)

Speeches and Official Announcements

Statement of the Ministers and Heads of Delegation for the Trans-Pacific Partnership Countries
“We are pleased to report that, over the past weeks, we have made significant progress on both component parts of the TPP Agreement: the market access negotiations and negotiations on the trade and investment rules, which will define, shape and integrate the TPP region once the agreement comes into force.”
The Ministers and Heads of Delegation for the twelve TPP member countries have concluded a three-day ministerial meeting in Sydney, where they negotiated on market access for goods, services and investment, and made “significant progress” towards completing a comprehensive agreement. TTIP negotiators are, like many of us, watching TPP progress closely. (Office of the Australian Minister for Trade and Investment)

Wyden, Hatch, Rockefeller, Thune: Trans-Pacific Partnership Must Protect Cross-Border Data Flows to Grow Digital Economy
“It is clear that a TPP agreement must include meaningful, clear obligations, enforceable through a strong and effective dispute settlement mechanism, that prohibit unnecessary limitations on the cross-border transfer, storage and processing of data or the physical location of computing infrastructure.”
In an official letter to US Trade Representative Michael Froman, representatives of the Senate Committee on Finance, and the Committee on Commerce, Science and Transportation, asked USTR to adequately address cross-border data flows in TPP negotiations, because US companies increasingly depend on the internet to compete on the global marketplace. This is sure to be a point of emphasis in TTIP talks as well. (United States Senate Committee on Finance)


ECB Identifies Vulnerable Eurozone Banks
On October 26, the European Central Bank published its assessment of the 130 largest banks in the Eurozone, which consisted of an asset quality review and a stress test. Results showed that 25 of them have a potential capital shortfall as of earlier this year. However, to date, only 11 out of these 25 still fail to meet the capital requirements due to an increase in public and private investment in 2014. During the next two weeks, these banks must present capital plans, which they have to implement in the course of the next nine months (European Voice)
Yesterday morning, the Atlantic Council held a conference call to analyze the results of this highly-anticipated comprehensive assessment. Incoming Global Business and Economics Department Director Andrea Montanino provided an excellent overview and his overall positive assessment of the findings.
Click here to read a summary of the event and listen to the recorded conference call.

Pacific Trade Talks Progress but Gap Remains Between United States, Japan
Despite significant progress in TPP talks during recent meetings between ministers and heads of delegations of the participant countries, considerable disagreements remain between the United States and Japan over market access in the automobile industry and agriculture. Other problematic issues include intellectual property rights, environmental protection, and rules governing state-owned enterprises. (Reuters)

Commission Mulls TTIP Minus Investor Arbitration
As revealed by the German newspaper Handelsblatt, citing an internal European Commission letter to incoming Trade Commissioner Cecilia Malmström, the Commission is considering removing the controversial ISDS mechanism from its negotiated offers to the US in TTIP negotiations. It’s unclear what the immediate US reaction would be, or what the counteroffer might remove from the US side of the table. (Euractiv)

Kirk Calls for US-EU Trade Partnership That Could Create 30,000 Illinois Jobs
Speaking at a summit on TTIP in Chicago on October 23, US Senator Mark Kirk spoke strongly in favor of a timely conclusion of the agreement, and pointed out the major opportunities that a comprehensive agreement would offer for Illinois: TTIP has the potential to create 30,000 additional jobs in Illinois, and increase its exports to Europe by up to 33%, which would ultimately result in $8 billion additional economic activity in Illinois. (Senator Mark Kirk)

Recent Analysis

Jean-Claude Juncker Plays with Future of European Union-United States Trade Deal
This Financial Times opinion piece sharply criticizes Jean- Claude Juncker’s decision to deprive incoming Trade Commissioner Cecilia Malmström of her autonomy to decide on the ISDS mechanism in TTIP. Giving co-authority to Frans Timmermans, incoming Commission First Vice-President, makes ISDS look like a “political football”, and sends the wrong signal to the United States. The FT editorial board also does a nice job of debunking the myth that ISDS is running rampant or overruling any reasonable government actions. (Financial Times)
In addition, his decision stands starkly in contrast to a letter to Jean-Claude Juncker by 14 EU member states who insisted on the inclusion of ISDS in TTIP.

The Atlantic Council: Five Questions with…João Vale de Almeida, EU Ambassador to the United States
Our new Atlantic Council sister newsletter “EU Source” conducted an interesting interview with outgoing EU Ambassador to the United States João Vale de Almeida, looking back at the evolution of the transatlantic relationship during his term of office. To ensure a productive and prosperous transatlantic future, Ambassador Vale de Almeida stresses the importance of concluding an ambitious TTIP, which offers both economic opportunities, and a geo political dimension. To reach a successful agreement, he stresses that “Just as there is an onus on us to be transparent in what we are negotiating, I hope that people will fully inform themselves about what TTIP is and isn’t before criticizing it. Those who support TTIP also need to come out more vocally making the case for it.” (Delegation of the European Union to the United States)
If you are interested in receiving the latest EU news, I highly recommend signing up for “EU Source.”

Brussels Briefing on Trade: All You Need to Know for October 27 – November 10
In her video, Lénaïc Vaudin d’Imécourt, trade editor of EU Trade Insights, provides an overview of the European Union’s most pressing trade issues for the upcoming two weeks. The most important topics include the start of the new Commission on November 1, a meeting by the WTO members to discuss the revival of the organization, a meeting of the TTIP advisory group on October 28, and the announcement of results of the Commission’s public consultation on ISDS, which will be released next month. (ViEUws)

Perspectives: TTIP Must Include Insurance Markets
In his opinion-piece, Steve Simchak, director of international affairs at the American Insurance Association in Washington, makes a strong case for the inclusion of financial services as well as insurance in TTIP. According to the author, the insurance markets of the United States and the European Union are the most integrated in the world. If TTIP negotiators continue to leave out the financial sector, significant market access and regulatory cooperation opportunities in the insurance sector will be lost–with consequences for consumers and regulators alike. (Business Insurance)

10 Parting Thoughts for America’s Diplomats
In his article, outgoing Deputy Secretary of State William J. Burns talks about the ten most important insights that he has gained in his 33 years at the State Department, providing a guideline for future US diplomats. According to Deputy Secretary Burns, diplomacy remains highly important but needs to be strengthened and adapted to modern challenges. Stating that “Nothing demonstrates diplomacy’s relevance more than its ability to contribute to America’s economic renewal. And nothing will support strong American diplomacy abroad better than a strong and vibrant American economy”, Secretary Burns sees TTIP (and TPP) as a significant investment in the future of American diplomacy. (Foreign Policy)

It is about Investments, Not Just Trade
In her Atlantic Community opinion piece, Valbona Zeneli claims that despite TTIP’s huge economic gains through the envisioned elimination of both tariff barriers, as well as non-tariff barriers, one should not forget about its strategic economic gains through investment liberalization. The author describes TTIP as a geopolitical alignment which will be able to promote both smart economics and democratic values globally. (Atlantic Community)

Bernd Lange – Driving Force
This piece in the European Voice provides an excellent and interesting summary of Bernd Lange, the new head of the European Parliament’s Committee on Trade, providing his professional background as well as insights into his personal life. Given his important role in TTIP negotiations, the author describes Lange as “one of the most important men in the eye of a transatlantic storm.” (European Voice)

Chemical Industry Counts on the Long-Term Opportunities from TTIP
In a meeting of the inter-trade organization of the German Chemistry industry, representatives emphasized the enormous economic gains from TTIP for their industry. Chemical expert advisor to the European Commission Reinhard Quick warns not to expect immediate short term gains but suggests to rather focus on the expected major long-term effects through the removal of non-tariffs barriers, regulatory cooperation, and a possible reduction of energy dependence from Russia. (Boersen Zeitung) – Original article in German

Upcoming Events

TTIP Reloaded – Additional Insights & New Perspectives – October 29 in Rome; hosted by the Fondazione Giacomo Brodolini and the Bertelsmann Stiftung – More Information

Trade Promotion Authority: Do We Need a New Approach? – October 29 in Washington DC; hosted by the Information Technology and Innovation Foundation – More Information

The Geopolitics of TTIP: Repositioning the Transatlantic Relationship for a Changing World – October 31 in Washington DC; Hosted by the Center for Transatlantic Relations – More Information; Read the book online here

Investor-State Dispute Settlement: A Reality Check – October 31 in Washington DC; hosted by the Center for Strategic and International Studies – More Information

What We Think, What We Know: Attitudes and Evidence on Trade and Jobs – October 31 in Washington DC; hosted by the Washington International Trade Association – More Information

Manchester Policy Week – TTIP: Cash Bonanza or Risky Deal? – November 4 in Manchester, United Kingdom; hosted by the Politics Department at the University of Manchester – More Information

Outreach – Update on TTIP After the Seventh Negotiation Round – November 4 in Brussels; hosted by the European Commission – More Information

TTIP Road Show, Bristol: The US-EU Trade Negotiations and the Coalition for Transatlantic Business – November 12, in Bristol, England; hosted by British American Business – More Information

The US–EU Strategic Partnership: Trade, Energy, and Security – November 12 in Washington DC; hosted by the American Security Project – More Information

8th Annual Transatlantic Business Conference – The Transatlantic Marketplace: Challenges and Opportunities Beyond 2014 – November 12 in Frankfurt, Germany; hosted by AmCham Germany, the F.A.Z.-Institut, the Trans-Atlantic Business Council, and the Federation of German Industries e.V – More Information

TTIP: What are the Challenges and Opportunities for my Business? – November 13 in Strasbourg, France; hosted by AmCham France and the CCI de Region Alsace – More Information

Launch of new Atlantic Council Publication: TTIP – Big Benefits for Small Business – November 14 in Washington and live-streamed online – More Information