What We’re Reading | October 31

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

Speech by Viviane Reding – Towards a More Dynamic Transatlantic Area of Growth and Investment | 4-Traders
At a recent conference in Washington, Viviane Reding, vice president of the European Commission, highlighted the importance of regulatory convergence under TTIP warning that diverging regulatory policies can block goods from entering a market and make imported products more expensive by adding unnecessary compliance costs.

Baucus Statement on the Transatlantic Trade and Investment Partnership | US Senate
Calling for rapid approval of trade promotion authority and proclaiming the many benefits of TTIP to the United States, Senate Finance Committee Chairman Senator Max Baucus advises US officials to act quickly to secure an agreement.

Hatch Statement at Finance Committee Hearing Examining the Opportunities & Challenges of TTIP | US Senate
Senate Finance Committee Ranking Member Senator Orrin Hatch stressed the importance of preserving strong intellectual property rights and removing barriers to transatlantic digital trade. Furthermore, Senator Hatch underlined that no industry sector should be excluded from regulatory convergence efforts, including notably the financial services sector which has proven controversial.


Senate Finance Committee Hearing on US-EU Trade Agreement: IP, Medicines, and Investor-State Dispute Settlement | Info Justice
The Senate Finance Committee held a hearing on TTIP on Wednesday October 30. Michael L. Ducker (FedEx), Ryan McCormick (Montana Grain Growers Association), Dave Ricks (Eli Lilly), and William Roenigk (National Chicken Council) all testified and voiced strong support for both the trade agreement and the rapid approval of trade promotion authority legislation.

Reding Warns Data Protection Could Derail US Trade Talks | EurActiv
Arguing that data protection was an inviolable personal right, and not up for negotiations, EU Commissioner for Justice and Commission Vice President Viviane Reding called for data privacy talks to be kept separate from TTIP negotiations. 

Brambles CEO Tom Gorman Addresses US Chamber of Commerce on Global Supply Chain | Wall Street Journal
During a US Chamber of Commerce CEO Leadership Series event, Brambles Limited CEO Tom Gorman spoke on the importance of both TTIP and TPP to contribute to a robust global economy by supporting global supply chains and trade facilitation.

Congress Should Help Get TTIP Approval, Witnesses Tell Lawmakers | Agri Pulse
Witnesses at the October 30 Senate Foreign Relations Committee Hearing on TTIP urged lawmakers to work with the administration in order to increase exports, specifically in agriculture. Committee Chairman Max Baucus (D-MT) stated that with 95 percent of the world’s consumers living outside of the US, trade and TTIP in particular would give American farmers, ranchers, businesses and workers more opportunities than ever before.

Recent Analysis

Barnier: Uncertain U.S. Derivatives Regulations Hindering Free Trade Agreement | FinCAD
Michel Barnier, European Commissioner for the Internal Market and Services criticized the US for failing to create derivatives regulations that resembles those of the European Union. This transatlantic policy divide could hinder TTIP negotiations, especially as they pertain to financial services oversight and cooperation.

Can TTIP Save the West? | The National Interest
Economist Samuel Rines discusses how an ambitious TTIP agreement can tip the global economic playing field back in favor of the West. While negotiations will be politically difficult, Rines argues that the economic benefits significantly outweigh the challenges of regulatory cooperation.

FedEx Testimony to Senate Finance Committee on TTIP (PDF) | US Senate
As one of the world’s largest shipping companies, it is no surprise that FedEx is an avid supporter of TTIP. A successful trade agreement will not only cut down trade barriers for FedEx, but the thousands of small and medium sized enterprises that rely on FedEx’s services. 

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.
Ongoing TTIP Negotiations – November 2013
Third Round of TTIP Negotiations in Washington – December 2013
Stock-taking exercise between EU Commissioner Karel de Gucht and USTR Michael Froman – January 2014

Employment Opportunities

Assistant Director, Transatlantic Relations, Atlantic Council