Today, the Atlantic Council is launching a new report on the potential impact of an ambitious TTIP on each of the fifty US states, along with our partners at the British Embassy in Washington and the Bertelsmann Foundation. I would encourage each of you to take a look and let us know if you have any questions or comments.

You can read the report here.

In addition, we are proud to be hosting UK Deputy Prime Minister Nick Clegg, along with Senators Chris Murphy (D-CT) and Ron Johnson (R-WI) to discuss the merits of expanding transatlantic trade and investment, with a particular eye on the benefits for the transatlantic relationship broadly and their home states in particular.

I would also like to encourage each of you to watch the webcast of our event at 3:30 EST here:

Speeches & Official Announcements

US Trade Representative on Trade Deal With EU
Michael Froman joined CNN to discuss the importance of promoting growth in the US by focusing on exports, particularly to the EU. While still in the early stages, Froman believes that the commonalities between the EU and US will help the negotiating parties overcome potential disagreements. In regard to Doha round negotiations, Froman said it is important to pursue fresh and credible negotiations. While the TPP agreement is the most urgent deal, TTIP is next in line.


Britain Leads Push to Convince Washington to Back Transatlantic Free Trade Deal | The Telegraph
Deputy Prime Minister Nick Clegg will arrive in Washington today to speak with US Vice President Biden and members of Congress about the importance of an EU-US free trade agreement. The visit aligns with the launch of the new report by the Atlantic Council, the Bertelsmann Foundation, and the Embassy of the United Kingdom titled TTIP and the Fifty States: Jobs and Growth from Coast to Coast.

US Manufacturers ‘Reshoring’ From China | Financial Times
Many American manufacturing companies are moving production operations back to the US, citing China’s ebbing competitive advantage in low-cost manufacturing and the US shale oil boom. Employment data is yet to reflect the improvements to competitive US manufacturing , the Boston Consulting Group predicts that reshoring and rising exports will create 0.6 million to 1.2 million US manufacturing jobs by the end of the decade.

All of America to Benefit from Free Trade Deal with Europe | FAZ
The Frankfurter Allgemeine Zeitung reported on the Atlantic Council’s TTIP study, emphasizing that all 50 states would benefit from a comprehensive free trade and investment agreement between the US and EU. The significance of the reported, as explained by FAZ, is the report’s emphasis on demonstrating the impact of TTIP on particular regions and Congressional districts.  Text in German.

Cars, iPhones, China and fracking – Four Things You Should Know About US Trade | Financial Times
The US trade deficit widened by $10 billion in 2012, due primarily to the increased import of cars and iPhones. In particular, IPhones played an increasingly important role in the widening gap between the US and China. The reported increase in agriculture imports was in large part due to a fracking boom in the US. The currently negotiated TTIP and TTP agreements will include five economies that make up the majority of US trade: EU, Canada, China, Mexico, and Japan.

Merkel Says Europe Policy Will Remain Unchanged | Financial Times
Following her significant electoral victory in Germany, Angela Merkel declared her re-election for a third term was “a very strong vote for a united Europe.” Chancellor Merkel believes that her crisis management in the eurozone was largely successful and that the monetary union will emerge stronger than it was pre-crisis.

Recent Analysis

Erixon: TTIP Will Move to Fast Track if First Results Come Early | EurActiv
Frederick Erixon, director of the European Centre for International Political Economy, argues that the key to a successful TTIP negotiation will be swift timing for negotiations. Negotiators need to build a dynamic that can generate quick, effective results that move past sideshow issues like the cultural exception in France. While there is no secret formula to trade negotiations, negotiators should move to quickly knock out small tariffs to initiate the momentum.

Financial Services Under TTIP | IFLR Magazine
TTIP negotiations could provide significant value to financial service firms by providing protections for international investments for foreign investors.

TTIP Must Overcome Cultural Perceptions | EurActiv
Both the US and the EU will need to invest serious political capital in the TTIP negotiations in order to avoid deal breakers. Regulatory issues will be especially difficult, as some of the standards are built into culture and customs.

Free Trade Zone between US and EU Will Create Growth and Jobs | 4-Traders
Matthias Wissmann, President of the German Association of the Automotive Industry, publically backed TTIP as a way to boost growth at the IAA symposium entitled “The Transatlantic Partnership – Opportunities & Challenges.” Kevin C. Milas, the US Consul General in Frankfurt, who gave a welcome address, and keynote speaker Bob Kimmitt, Chairman of the American Council on Germany, also underlined importance of a transatlantic free trade zone in both of their speeches. 

Upcoming Events

Second Round of TTIP Negotiations in Brussels the week of October 7