On September 24th, the Atlantic Council hosted UK Deputy Prime Minister Nick Clegg, and Senators Chris Murphy (D-CT), and Ron Johnson (R-WI) for an in-depth conversation about the economic and geostrategic benefits on offer from an ambitious Transatlantic Trade and Investment Partnership (TTIP).
The event launched our new report— TTIP and the Fifty States: Jobs and Growth from Coast to Coast—written in partnership with the British Embassy in Washington and the Bertelsmann Foundation. As the report emphasizes, each of the fifty US states stands to gain significantly should TTIP be successfully negotiated and implemented. Across the United States, almost 750,000 jobs would be added to the economy, due to increased trade with Europe alone. Each state would also send 33 percent more exports to the EU annually, on average. Importantly, TTIP is also a key driver of future wealth—as each American family is estimated to gain an additional $865 annually due to the lower costs of goods and increased wages associated with export jobs.
You can view highlights of the event and download the report here.
Speeches and Official Announcements
Joaquín Almunia on EU Competition Policy, Relations with the US, and Global Business
On Wednesday, Joaquín Almunia, the vice president of the European Commission and Commissioner for Competition Policy, gave his remarks on the “golden opportunity” that regulatory authorities have before them to devise global standards through transatlantic negotiations.
News
US, UK Politicians Eye Strategic Aims of Transatlantic Trade Talks | Wall Street Journal
On Tuesday, UK Deputy Prime Minister Nick Clegg and Vice President Joe Biden discussed the strategic elements of the TTIP trade talks, which are strongly supported by both administrations. Clegg then attended a TTIP discussion at the Atlantic Council where he elaborated on the strategic advantages this powerful trade zone could generate. Senators Chris Murphy (D -CT) and Ron Johnson (R-WI) also attended the event and cited the geopolitical factors of TTIP as among the most compelling reasons to lend their support to transatlantic trade efforts.
Recent Analysis
Euractiv Special Report: EU-US Trade Talks Moving Forward? | Euractiv
Throughout the week, Euractiv has been running a special report outlining progress on TTIP in advance of next month’s second round of negotiations in Brussels.
Obama’s Best Friend in Europe | DW
Merkel’s victory should be good news for TTIP negotiations. Germany has long been staunchly in favor of open trade, and with the election behind them we can expect a newly-reenergized Chancellor Merkel to push hard for an agreement with the United States.
Merkel’s Victory for the Transatlantic Economy | AICGS
Writing for AICGS, Peter Rashish argues that the absence of any real political debate against expanded trade relations with the US during the German election signifies the actual importance of TTIP to the German government and electorate.
A Second Term Policy For Obama That Will Boost The Economy | The Brookings Institution
The Brookings Institute’s Bill Frenzel argues that with Obama in his second term, and with Michael Froman in place as the US Trade Representative, conditions may be ideal for significant progress for US trade policy. However, cooperation with Congress remains imperative.
AmCham in Germany Wish List for Merkel | EurActive
With the new German government is place, the American Chamber of Commerce in Germany have made their economic policy wish list known. With Germany remaining an attractive investment destination, AmCham Germany Chairman Bernhard Mattes urged that TTIP be vigorously pursued.
Upcoming Events
Climate Leadership and Trade Agreement Seminar – September 27
Second Round of TTIP Negotiations in Brussels – Week of October 7
EU-US TTIP Stakeholder Briefing – October 9
The European Commission is organising a stakeholder briefing session in Brussels during the second round of TTIP negotiations which will take place in Brussels from 7 to 11 October 2013. During this session, stakeholders will be briefed by the EU and US chief negotiators on the status of the negotiations and will have the opportunity to exchange views with chief negotiators of both sides.