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).

The Transatlantic Trade and Investment Partnership (TTIP) and Financial Services Regulation: a US Perspective

My colleague Chris Brummer will be testifying for the EU Parliament today on TTIP and financial services. As part of his testimony, available here, he identifies the stumbling blocks to a financial services chapter, and advises policymakers as to what should not be included in order to avoid upending trade talks.
For an agenda of the public hearing click here and for a recorded webcast, click here.

Speeches & Official Announcements

EU-US Trade Negotiators Explore Ways to Help SMEs Take Advantage of TTIP, as Fourth Round of Talks Ends in Brussels
Directly following the conclusion of the fourth round of negotiations, EU chief negotiator Ignacio Garcia Bercero, said that he and his US counterpart Dan Mullaney have made concrete commitments to include a chapter in TTIP solely focused on helping small-to-medium sized enterprises benefit from liberalized transatlantic trade and investment, as they already make up nearly ninety-nine per cent of all businesses in the European Union and a significant majority in the US.

Press release from Europa; report outlining the benefits for SMEs available here.


NGOs Call for More Transparency Over Food in EU-US Trade Talks
In both the European Union and the United States, consumer groups and other activists in civil society are calling on their governments to be more transparent with negotiations by providing draft versions of the negotiating texts as they become available. The EU chief negotiator, Ignacio Garcia Bercero, has already attempted to assuage European NGO concerns by categorically stating that the EU’s positions on food-safety issues are non-negotiable.(EurActiv)

Transatlantic Trade Talks Hit German Snag
Last Friday, the German Ministry for the Economy announced that it was against the inclusion of the Investor-State Dispute Settlement Mechanism in the TTIP agreement. German officials stated they believe there are enough protections for US investors in current EU law and in national courts. (Financial Times)

Recent Analysis

Jumpstarting the US-EU Relationship: Mr. Obama Goes to Brussels
Robert A. Pollard at CSIS looks ahead to President Obama’s upcoming trip to Brussels for the US-EU Summit on March 26th. He argues that the president is not about to announce a major breakthrough in TTIP negotiations, but insists he does need to acknowledge the progress that’s been made so far and should call for a swift inclusion of the agreement. Given the economic and strategic opportunity that TTIP provides, it should be given full attention at the Summit. (CSIS)

WTO Dispute Settlement and the Role of Congress in Trade Policy
The Wilson Center’s America’s Trade Policy blog interviews former Congressman James Bacchus about his experience as Chairman of the WTO’s dispute settlement Appellate Body, and his take on Congress’s role in formulating US trade policy. (Wilson Center)

Why Democrats Should Back the President on Free Trade
An op-ed in the Wall Street Journal (WSJ) argues that Democrats should frame the trade debate to focus on the benefits that global commerce has for growing jobs at home and strengthening the middle class. The WSJ op-ed writes that new chairman of the Senate’s Finance Committee, Ron Wyden (D-OR), is focused on ensuring how to “increase the winner’s circle” through expanded international trade. (Wall Street Journal)

Johnson: What is a Foreign Language Worth?
On a lighter note, The Economist reported that MIT economist, Albert Saiz, who studied the economic returns on learning foreign languages, found that German showed the highest economic gains for English speakers, despite Spanish making up a higher portion of foreign-language speakers worldwide. Saiz attributed this to Germany’s openness in trade and its status as a trade powerhouse. (The Economist)

Upcoming Events

EU-US Trade Agreement: Myths And Truths at the European Parliament in Brussels, room ASP 5E2 – March 18 — Register here

TTIP and Financial Services Regulation: A Hearing by the Economic and Monetary Affairs Committee in the European Parliament – March 18More information

Roundtable on the Transatlantic Trade and Investment Partnership (TTIP): An European and American Discussion- March 18More information

Ensuring US-EU Economic Cooperation: A Conversation with Sharon Bowles, MEP – March 25 at the Atlantic Council — Register here

The discussion will center on financial services regulation cooperation and the possible role TTIP could play in bridging transatlantic divisions.

President Obama travels to Brussels for a US-EU Summit – March 26