Transatlantic Trade And Investment Partnership

Question 1

TTIP?

Answer 1

No agreement yet they are negotiating
Driven by several factors: competition with emerging countries the slow progress of multilateral negotiations of the WTO Doha rounds + after the financial crisis + together America and the EU account for $30 trillion in annual output which represents half the global output + The agreement could boost global GDP by 0.06 a year + a EU-US agreement Would be the biggest bilateral trade deal ever reached

Question 2

Goal of the TTIP ?

Answer 2

• To expand and boost trade and investment

- contributes to the development of global rules (boost growth and create jobs)

Question 3

Criticism of the TTIP ?

Answer 3

• because of the harmonization the standards, there will be a race to the bottom concerning consumer protection and Public Safety. The ISDS was included In the draft and stands for investors State dispute settlement. This is in the cousin that would allow for any investors to bring their disagreements with governments to independent panels. It means that for example if a company or investor that invested in a foreign country considers a new law or regulation passed are imposed by the government of the country harms their business it investment that it can go to this panel and ask for the money they think they lost or some people fear that they could even ask to over rule or change what was voted by parliament. The risk is to have corruption with conflict of interest. Since this panel would be composed of corporate lawyers that would act as judges, the problem is that these corporate lawyers working big companies (something that countries would lose their sovereignty)

Question 4

The first round of the TTIP in 2013?

Answer 4

Tariffs between the US and Europe are very low so the goal will be to cut non tariff barriers. And this agreement will focus on harmonizing rules and technical product standards + Focus on removing their regulatory differences between the US and Europe + Focus on how to eliminate a red tape

Question 5

Transpacific partnership?

Answer 5

Negotiation between countries of the Asia Pacific region. It was one of the primary goals of the Obama administration but Trump decided that he did not want to be on this agreement

Question 6

Conclusion? (Case studies)

Answer 6

There is a change in the world trade. There is a shift towards a more fragmented system that is to say that they will be regional trade blocks or bilateral trade blocks seem to be more important than reaching multilateral agreement. Regional trade agreements are becoming larger and larger and according to some, they are threatening the multilateral trade system WTO. Some people fear that multilateral way of negotiating could disappear since free trade areas and bilateral negotiations are a more efficient alternative to multilateralism