What We’re Reading | November 5

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

Announcement of the Next Round of TTIP Negotiations | USTR
The Office of the United States Trade Representative announced new dates for the second round of TTIP negotiations, which will take place in Brussels from November 11-15. Negotiators plan to discuss services, investment, energy and raw materials, and regulatory issues.

Secretary Kerry Travels to Europe and the Middle East | US Department of State
On Monday, Secretary John Kerry arrived in Warsaw, Poland as part of his eleven day tour of Europe and the Middle East. Secretary Kerry is scheduled to meet with government and business leaders to discuss the importance of the partnership between the US and Poland. Poland is the largest commercial partner with the US in Central Europe and this partnership will only grow with TTIP.


Obama’s Bid for Fast-Track Trade Authority Runs into Trouble | Financial Times
As trade negotiations for TPP are supposedly nearing a conclusion, President Obama and USTR Michael Froman are making a big push for Trade Promotion Authority (TPA). Often considered an essential tool for trade, TPA would fast track the negotiation process by only allowing Congress the ability to only vote “yes” or “no” on the ultimate trade deal. Now the pressure is on to educating Congress about TPA and overcoming skeptical Democrats and the Tea Party’s distrust of the administration.

BMW Eyes a $550 Million Prize in EU Trade Deal | Auto News
Automakers stand to be big winners in an ambitious TTIP agreement. BMW alone could save up to $550 million each year following the removal of EU and US import tariffs on cars and trucks. BMW is also supporting TTIP negotiators’ efforts to align safety and environmental regulations across the Atlantic.

Autumn 2013 Economic Forecast: Gradual Recovery, External Risks | European Commission
A slight but sustained economic recovery appears to be underway in Europe. According to the European Commission’s autumn forecast, growth in the second half of 2013 is expected at 0.5 % compared to the same period in 2012. Moving forward, economic growth is forecasted to gradually gather pace in 2014, and reach 1.9 % in the EU and 1.7 % in the euro zone in 2015. Adjustments in Europe continue as significant structural reforms are being implemented and fiscal consolidation moves forward.

US Treasury’s Brainard Said Likely to Be Fed Nominee | Bloomberg
Lael Brainard, the US undersecretary of the Treasury for international affairs, will be stepping down from her post on November 8. According to a Treasury aide, Brainard, who was integral to the Obama administration’s response to the euro zone crisis, is likely to be nominated to the Federal Reserve Board. 

Data Protection Ruled Out of EU-US Trade Talks | Financial Times
Concerned with the contentious issue of data privacy’s ability to derail TTIP negotiations, EU officials have ruled out Germany’s request for inclusion of such rules and regulations in the trade pact. Brussels also voiced concern that finding common ground with the US could ultimately lower EU privacy standards.

Weak Economic Forecasts from European Commission Puts Pressure on Draghi | Fin Facts
Today’s weak economic forecasts from the European Commission coupled with staggering unemployment levels will undoubtedly renew pressure on ECB President Mario Draghi to propose an additional cut in interest rates. Olli Rehn, European Commission vice president and Commissioner for Economic and Monetary Affairs emphasized that while the fiscal consolidation and structural reforms undertaken in Europe have created the basis for recovery, it is too early to declare victory.

Recent Analysis

Caterpillar CEO: The Real Trade Reform America Needs | Global Atlantic
The renewal of Trade Promotion Authority (TPA), which gives the president the ability to fast-track trade agreements by requiring Congress to give an up or down vote within 90 days, is essential to the success of TTIP. The current lag time between finalizing an agreement and actual ratification by Congress is hindering the US ability to prepare for a new era in which emerging markets are making up the majority of global growth.

Upcoming Events

  • Second Round of TTIP Negotiations in Brussels – November 11-15
  • Friday November 15 – Media Briefing on Second Round of TTIP Negotiations by US and EU chief trade negotiators. Watch online or click here for more information on registration
  • Friday November 15 – The European Commission will hold a briefing for stakeholders during the second round of negotiations- November 15. Click here to register.
  • Monday, December 2 – The 2013 Mortimer Caplin Conference on the World Economy presents: The TTIP: A Multilateral Perspective. Register Here.
  • Third Round of TTIP Negotiations in Washington – December 16-20
  • Stock-taking exercise between EU Commissioner Karel de Gucht and USTR Michael Froman – January 2014

Employment Opportunities

Assistant Director, Transatlantic Relations, Atlantic Council