Transatlantic Agreement

The agreement is also „a commitment to a global world where common values and common economic activities can be better promoted,“ German Chancellor Angela Merkel said in Berlin in June 2013. TTIP also provides an opportunity to bring the United States and the EU closer together politically and to strengthen transatlantic friendship. The proposed Transatlantic Trade and Investment Partnership (TTIP) is a comprehensive trade agreement envisaged between the European Union (EU) and the United States to promote trade and economic growth. The TTIP is an agreement to support the Trans-Pacific Partnership (TPP) from which the United States withdrew in 2017. It is expected to be the largest trade agreement ever negotiated. The following initiatives by European policy makers and the US government were: 1995, the creation of a business interest group, the Transatlantic Trade Dialogue (TABD) by authorities on both sides of the Atlantic; 1998, the creation of an advisory committee, the Transatlantic Economic Partnership; The Transatlantic Economic Council was established in 2007, bringing together business representatives from both sides of the Atlantic to advise the European Commission and the US government – and finally, in 2011, the creation of a high-level panel of experts whose conclusions, presented on 11 February 2013, recommended the opening of negotiations for a large-scale free trade agreement. On February 12, 2013, in his annual State of the Union address, President Barack Obama called for such an agreement. [27] The next day, the President of the European Commission, Jose Manuel Barroso, announced discussions on negotiating the agreement. [28] [29] Particular attention has been paid to the need to negotiate a comprehensive set of regulatory reforms through harmonization, mutual recognition or equivalency agreement. This document will not attempt to analyse the many sectoral permutations that could, in the future, develop the TTIP negotiations. There is only one political challenge: negotiations on the progress of regulatory trade liberalization will address the much-feared iron triangle of interest groups, congressional committees and bureaucracy.

In addition, there are specific issues arising from the consideration of the powers of independent regulators, many of which are subject to legal obligations and responsibilities. While it is not clear which agencies will be the most tenacious in the face of the pressure of relinquishing power, these negotiations are certainly the most difficult. The Obama administration and the political leaders of the European Union have made courageous vows to have begun to weaken important regulatory districts. On this side of the Atlantic at least, there was little evidence. On health and safety, the Food and Drug Administration has agreed to discuss with negotiators, but so far there has been little concrete movement.