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
Statement by the Press Secretary on the President’s Travel to the Netherlands, Belgium, and Italy in March 2014
US President Barack Obama will travel to the Netherlands, Belgium and Italy for his first visit to the European Council and European Commission, corresponding with a US-EU Summit on March 26. [The White House]
Commission to Consult European Public On Provisions in EU-US Trade Deal on Investment and Investor-State Dispute Settlement
To ensure a transparent investment protection system, the EU Commission plans to consult the EU public before moving forward with TTIP negotiations covering investor-state dispute settlement arrangements. Although overall negotiations will continue as planned, the EU will hold a three month long public consultation to address concerns over a provision that would allow investors or multinational firms to bring legal claims against a state. [Europa]
Baucus, Hatch, Camp Unveil Bill to Bring Home Job-Creating Trade Agreements
At the January 16 US Senate Committee on Finance hearing, the chairman, Senator Max Baucus, emphasized the importance of Trade Promotion Authority for moving TTIP and TPP forward particularly to increase domestic job growth and support American exports. [US Senate Committee on Finance]
News
US Trade Debate Prompts Fears of Delay in Talks
The US needs to rally support from hesitant Democrats to pass Trade Promotion Authority and advance its ongoing global trade negotiations. As the Trade Promotion Authority bill as currently written would allow members of Congress to attend trade negotiation sessions personally, the proposed bill worries EU officials. They are afraid of the potential EU political implications, as this may inspire the European Parliament to request the same permission. [Financial Times]
EU Calls for Much Bigger Fines for Data Breaches
EU Justice Commissioner Viviane Reding calls for a re-evaluation European data privacy laws. After recent data privacy issues with multinational companies such as Google, the European Parliament proposes a stronger enforcement mechanism and a single EU regulator to issue fines. [BBC]
Recent Analysis
Free-Trade Deals Such as the Trans-Pacific Partnership Help the United States
Although opponents of TPP and TTIP argue that barrier elimination will hurt the US job market and increase domestic income inequality, a TPP case study suggests that this incorrect. History actually reveals the opposite; suggesting that the US becomes more productive with international competition, and openness to US exports. Moreover, that international competition ultimately supports the middle class and boosts employment. [The Washington Post]
‘High Trade’ Jobs Pay Higher Wages
Research shows that workers at globally integrated companies tend to earn more than workers at purely domestic companies. Policymakers therefore should encourage trade and investment liberalization and support initiatives such as TTIP and TPP to benefit US workers. [The Wall Street Journal]
Pacific, EU Trade Deals Need Up-Or-Down Votes
With a trade negotiation mechanism, the proposed Bipartisan Congressional Trade Priorities Act will clarify today’s complex trade policy role for Congress. To address critics’ valid concerns including potential domestic job loss and income inequality, the US should hold a national debate, separate from trade negotiations, and compensate those disadvantaged by free trade agreements. [The Boston Globe]
Free Trade: A Resolution for the US Economy: Pass Trade Promotion Authority
Both TTIP and TPP will update US trade policy to better accommodate today’s digital and technologically integrated global economy. The proposed Trade Promotion Authority legislation will expedite this process and facilitate the removal of barriers for economic gain both in the United States and elsewhere. [San Jose Mercury News]
Upcoming Events
- France and the United States: Companions in Competitiveness – January 21.
- The Danger of Divergence: Transatlantic Financial Reform & the G20 Agenda in Washington, DC- January 28.
- The 20th Anniversary of NAFTA and the Future of Free Trade – January 28. Click here for details.
- The Danger of Divergence: Transatlantic Financial Reform & the G20 Agenda in Brussels – February 12.
- The European-American Chamber of Commerce’s Annual Economic Update – February 12.
- The Danger of Divergence: Transatlantic Financial Reform & the G20 Agenda in London – February 14. Click here for details.
- Stock Taking Exercise between EU Commissioner Karel de Gucht and USTR Michael Froman – early 2014