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
US Ambassador to EU Gardner Presents Credentials, Launches Twitter & TTIP Video
On Tuesday, Ambassador Anthony Gardner who was sworn in as US Ambassador to the EU on February 18, presented his credentials to the European Council and European Commission in time for President Obama’s upcoming visit to the US-EU Summit on March 26. One of Ambassador Gardner’s main priorities will be to ensure the TTIP negotiations remain on track. via the US Mission to the EU.
Follow Ambassador Gardner on Twitter.
See his new video highlighting the opportunities TTIP offers here.
News
In Trade Talks, It’s Countries vs. Companies
The Investor-State Dispute Settlement mechanism has been a contentious issue in TTIP negotiations. This article points out that the cumulative number of arbitration cases in the 3000 trade treaties which include ISDS provisions has increased from 94 in 2002 to 518 in 2012. These increases show why the European Commission has erred on the side of caution by delaying TTIP negotiations on the subject, especially as the issue has drawn increasing public attention. (Bloomberg Businessweek)
EU Reaches Deal on Final Piece of Banking Union
In the early hours of Thursday morning the European Parliament and European Council capped off a two-year political standoff by agreeing on the measures to create a Single Resolution Mechanism for eurozone banks. The agreement sets common rules across the eurozone on how to deal with failing banks, and establishes a shared fund of fifty-five billion euros to be raised over a period of eight years to cover banking crisis costs. (Financial Times)
TTIP, Tutti i Passi Dell’Accordo Contrastato Tra Le Sponde Dell’Atlantico
Italian news outlet Formiche looks forward to President Obama’s visit to Europe at the end of March, and identifies the topics that both trading partners will most likely focus on: reduction and elimination of tariffs, the inclusion of a specific chapter to focus on assisting small- and medium-sized enterprises, and e-commerce. (Formiche – full article in Italian)
HSBC Launches Made For Trade Initiative in Los Angeles
On Wednesday, HSBC Bank USA announced the launch of its Made for Trade initiative. The initiative will include a number of trade shows in key cities that have been shaped by global trade including Los Angeles, San Francisco, Chicago, and Houston. In each city, HSBC will launch its own commissioned report on the future of global trade and the policies needed to promote the flow of good, service, and capital. (HSBC Holdings Plc)
Recent Analysis
The Obama Administration’s Trade Agenda Is Crumbling
Dan Pearson, senior fellow with the CATO Institute’s Center for Trade Policy Studies, argues that the Obama Administration can still theoretically salvage its trade agenda despite the many challenges it faces in Congress. However, he notes the Administration has shown a distressing unwillingness to use the political capital necessary to overcome these challenges so far. (CATO Institute’s Trade Bulletin)
Trade In The Wider Atlantic And The Transatlantic Trade And Investment Partnership
Peter Sparding of the German Marshall Fund analyzes the impact that the conclusion of TTIP could have for the Wider Atlantic basin including Africa and Latin America. The analysis concludes that TTIP poses significant opportunities but also some challenges for the Wider Atlantic which should be taken into account as negotiations move ahead. (GMF)
Obama’s Brussels Agenda: Verify but Trust
President Obama’s trip next week will be the perfect opportunity to jumpstart trust in the transatlantic relationship that has been tested in light of recent events in Ukraine and a continued lack of trust following the NSA scandal. As many supporters of the trade agenda feel negotiations have stalled somewhat, President Obama’s visit will be an important chance to reaffirm the geopolitical and economic importance of TTIP, and lend political pressure toward its completion. (GMFUS Blog)
The Case for a New Atlantic Community
Jose Maria Aznar, distinguished fellow at John Hopkins University’s Center for Transatlantic Relations, explains that much work remains to be done to revitalize forums of cooperation between all regions in the Atlantic Community. Some sixty-five countries and thirty-three territories make up the community, with vast energy exploitation potential and the need to cooperate in areas like human and energy security, maritime issues, and trade to name only a few. (Wall Street Journal)
Upcoming Events
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 role TTIP could potentially play in bridging transatlantic policy divisions.
President Obama travels to Brussels for a US-EU Summit – March 26
Transatlantic Conference TTIP Revealed: Fact and Fiction – Hosted by the American Chamber of Commerce to the EU on March 27 in Brussels (More information)