What We’re Reading: February 14

TTIP Action aggregates the latest news and best analysis from across the United States and European Union on the ongoing negotiations for the Transatlantic Trade and Investment Partnership (TTIP).

Speeches & Official Announcements

Yellen and Kohn Testify on How the Fed Can Reduce Economic Uncertainty
On Tuesday, the Chairman of the Board of Governors of the Federal Reserve System testified to the House Committee on Financial Services on the conduct of monetary policy and the state of the economy. She reassured the full committee that the Federal Reserve will do what it can to ensure that domestic financial rules such as the Dodd-Frank and Volcker rules will not conflict with global frameworks, while at the same time monitoring their effects on the US economy. (See transcript here)

Gardner Confirmed as US Ambassador to the EU
On Wednesday, Anthony Luzzatto Gardner, was confirmed by the United States Senate as US Ambassador to the European Union. Two of the most important issues on his agenda in the coming months will be to manage the diplomatic fallout from the NSA scandal, and to sustain negotiations between the US and EU. (European Voice)


Letta to Stand Down as Italy’s PM After Party Backs Renzi
European markets reacted neutrally to the news that the Italian prime-minister and leader of the ruling Democratic Party resigned under pressure from his party. His successor, Matteo Renzi, while less experienced, is said to have greater popular backing, implying a better chance of pushing through reforms in a dead-locked Parliament. (Financial Times)

Hollande to Obama: Let’s Agree TTIP Fast
At a joint news conference at the White House on Wednesday between Barack Obama and Francois Holland, both presidents committed to the completion of the TTIP accord. Hollande called on both parties to act swiftly and endorse the pro-growth trade deal. (EurActiv)

US Strikes Deal With EU on Trading of Swaps
US regulators from the Commodity Futures Trading Commission and regulators from the European Commission reached a deal on Wednesday to exempt European trades and electronic platforms from US regulations about to take effect on February 15, 2014. Similar rules are only expected to take effect in Europe at the end of 2016. (Wall Street Journal)

Recent Analysis

Modified Corn a Step Closer to Approval in Europe
The European Union’s complex weighted-voting system ensured the approval for cultivation of the corn variety PIONEER 1507, even though a majority of EU member countries voted against it. This is a significant breakthrough for US seed companies pushing for the liberalization of EU agricultural markets. (New York Times)

France and Germany Lead Euro Zone to Higher Growth
The European Union’s economy grew faster than expected in the last three months of 2013. Despite this welcome news, EU-wide unemployment remains high. The jobs that a successful completion of the Translatlantic Trade and Investment Partnership would create shouldmotivate negotiators in the next round of negotiations scheduled for March. (New York Times)

Upcoming Events