The Transatlantic Trade and Investment Partnership: Review of the debate on economic blogs
David Saha 20 July 2014
An early draft of the Transatlantic Trade and Investment Partnership (TTIP) sparked an intensive public debate over possible advantages and disadvantages. This column reviews some arguments in favour of the Partnership and against it. While there is some debate over how large the economic benefit could be in the face of already relatively low trade barriers, critics claim that the deal will lower standards of consumer protection, provision of public services, and environmental protection in the EU.
A study by the Centre for Economic Policy Research (CEPR 2013) for the European Commission models the effects of the Transatlantic Trade and Investment Partnership (TTIP) in a computable general equilibrium model. An ambitious deal, consisting of tariff barriers being lowered to zero, non-tariff barriers lowered by 25%, and public procurement barriers reduced by 50%, would lead to an increase in EU GDP by 0.5% by 2027. Growth effects for the rest of the world will be positive, on average, 0.14% of GDP due to increased demand from the EU and US.
Global governance International trade
US, EU, TTIP
TTIP, the multilateral trading system and Latin American countries
Anabel González 29 May 2014
Mega-regional negotiations will underwrite global governance on 21st-century trade issues and facilitate the proliferation of global and regional value chains. This column writes that Latin American countries would gain from a strengthened and effective WTO to help mitigate the friction and fragmentation that may result from the mega-regionals.
A lot is happening in trade negotiations in almost every corner of the world. Countries have been quite active at the bilateral and regional levels for some time – the WTO has been notified of 432 regional trade agreements.
WTO, free-trade agreements, TPP, TTIP
TTIP – Is free trade coming to the north Atlantic?
Dennis Novy 28 May 2014
The negotiations for the Transatlantic Trade and Investment Partnership are about a year old and making only slow progress. This column argues that TTIP is a long-run project that will probably take several years to complete. Despite its significance to global trade, without support from the top echelons of government it might falter.
If concluded successfully, the Transatlantic Trade and Investment Partnership (TTIP) would be the most ambitious free trade agreement in history. This is partly due to its sheer scale, with the EU and the US representing about 45% of global output. It is also partly because of the attempt to tackle non-tariff barriers and regulation. As a mega-deal, TTIP could be a game changer for 21st-century trade (Hoekman 2014).
non-tariff barriers, TPP, TTIP
The problem with TTIP
L Alan Winters 22 May 2014
Most economists cheer the Trans-Atlantic Trade and Investment Partnership that the EU is currently negotiating with the US. This column argues it is a pity that TTIP and other mega-regional agreements have emerged. It sees the exclusion of China in particular as an existential threat to the world trading system. It urges policymakers in the EU to focus instead on the world trading system or even consider an agreement with China.
Much attention has been focused on the Trans-Atlantic Trade and Investment Partnership (TTIP) that the EU is currently negotiating with the US. Most economists cheer this development, but I regret it – it is a pity that it has emerged.
US, EU, trade agreements, TPP, TTIP
Trade talks and national security
Vinod K. Aggarwal, Simon J Evenett 15 November 2013
Revelations about American spying in Europe – and the backlash they have produced – threatens ongoing EU-US trade talks. This column assesses that threat, highlighting often-overlooked factors, not the least of which is the poor record of allowing security policy concerns to influence trade relations.
It was all going so well. In June 2013, at the G8 Summit in Northern Ireland, the EU and US formally launched negotiations for a Transatlantic Trade and Investment Partnership (TTIP). The optics were great. Substantively, the launch was taken as further interest in trade policy by the Obama Administration, whose only trade initiative so far had been the Trans-Pacific Partnership (TPP) negotiations in the Asia-Pacific. On the European side, American interest in working with Europe in view of the “pivot to Asia” was clearly welcome.
TTIP, NSA surveillance, US-EU trade talks
TPP, TTIP and multilateralism: stepping stones or oceans apart?
Lucian Cernat 08 November 2013
Trade agenda consists of new and old themes, often closely intertwined. Among the new themes, mega-FTAs– in particular the Trans-Pacific and the Trans-Atlantic Trade and Investment Partnership – have been especially popular. This column discusses the nature of mega-FTAs and their relationship with the multilateral rules. The column concludes that such FTAs promote deep regional integration, but also have positive impact on non-members.
‘New’ and ‘old’ themes in the trade agenda
multilateralism, free-trade agreements, TPP, TTIP, mega-FTAs