What We’re Reading | October 29

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

Kerry Blasts Shutdown, Warns Washington “The World Will Not Wait for Us” | ABC News
Last week, Secretary of State John Kerry took the opportunity to criticize the US government shutdown for hindering several US international policy efforts, notably potential economic growth and job creation by delaying TTIP and TPA negotiations.


US and German Standardizers Meet to Advance Transatlantic Trade Objectives | Thomasnet
The American National Standards Institute (ANSI) and the German Institute for Standardization (DIN) held a panel discussion this month to discuss the regulatory standards-related aspects of the ongoing TTIP negotiations. While attendees noted the significant differences between the regions’ respective systems, they called for negotiators to increase transparency and mutual understanding to address these differences.

Amcham Hosted Conference on Bulgarian Perspective on Transatlantic Trade and Investment Partnership | The Sofia Globe
The American Chamber of Commerce in Bulgaria held a one day conference on October 24 to discuss the Bulgarian perspective on TTIP, including proper governance for transatlantic commerce moving forward. 

Bulgarian President Plevneliev Backs Potential of EU-US Trade Partnership Talks for Bulgaria | AmCham Bulgaria
Bulgaria strongly supports the spirit and purpose of the envisaged Transatlantic trade and investment partnership agreement between the United States and the European Union and would like to see it signed as soon as possible, President Plevneliev said on October 24, 2013 at a forum organised by the American Chamber of Commerce in Bulgaria.

Turkey and US Seek to Build Closer Economic Ties | Hurriyet Daily News
Following numerous visits by Turkish delegations to Washington, the US and Turkey are taking steps to establish deeper economic and trade ties. The US Chamber of Commerce will open an office in Istanbul, and an American – Turkish Business Council will be formed and undertake lobbying efforts for Turkish inclusion in a TTIP agreement, or at least a US-Turkey free trade agreement.

Consumer International: TACD holds forum on EU-US Trade Agreement | 4-Traders
The Transatlantic Consumer Dialouge (TACD) is holding a stakeholder forum on October 29 to discuss the potential impact of TTIP on consumers. Specific topics will include transparent negotiations, food safety and labeling, data protection, intellectual property rights, and financial services.

US Split Over Whether Allies’ Spying Fury is Genuine | Financial Times
While there are serious implications for transatlantic relations stemming from the ongoing NSA spy revelations, some officials in Washington see European outrage as somewhat opportunistic. Many are wondering whether Berlin and Paris, in particular, are simply using the news to renegotiate intelligence sharing agreements with the United States.

Derivatives Dispute Harming EU-US Free-Trade Talks | Reuters
Last July, the US Commodity Futures Trading Commission agreed with the European Commission on a position to streamline worldwide derivatives trading. Since that agreement, the CFTC has made little progress to actually coordinate its policies with Europe, however. Arguing that TTIP negotiations need to include financial services to prevent a “Balkanization” of the market, where more transations occur outside of exchanges, Commissioner Michel Barnier urged rapid action.

Brussels to Set Up Security, Business Networks in Push for European Cloud | EurActiv
Yesterday, the European Commission announced that it will set up a new expert group to help establish a unique “European cloud” that will challenge global rivals in the technology and data security sector. This announcement is in response to a diminished trust that European businesses have in US cloud computing companies. According to the Cloud Security Alliance, one in ten non-US residents had cancelled projects with US-based cloud computing providers due to the Prism scandal.

Recent Analysis

The British Problem Facing a Transatlantic Trade Deal | Huffington Post
TTIP supports Britain’s current coalition government’s aim for export led growth, and also reinforces the EU as a means of security and trade for the UK. Further, joining the EU allows the UK to depart from its position as a junior partner in the “stragetic relationship” with the US to an economic equal. Despit this, threats of a UK depature from the EU could derail negotiations.

Global Glamour | Weekly Standard
The fashion industry stands to see significant gains from a sucessful TTIP agreement. Although average tariffs in the transatlantic market overall hover around 3 percent, the fashion industry is taxed at comparatively high rate with the tariffs on apparel averaging around 15 percent in the US and 12 percent in the EU. Moreover, due to the rise in disposable income that TTIP is anticipated to create, luxury goods companies are poised to capitalize on an integrated transatlantic marketplace. 

Upcoming Events

Thurday November 14, 2013 – In Paris: The American Chamber of Commerce in France will host – The TTIP and Its Impact on Global Governance.
Next Round of TTIP Negotiations in Washington – Currently scheduled for December 2013

Employment Opportunities

Assistant Director, Transatlantic Relations, Atlantic Council