Abstract:
The Transatlantic Trade and Investment Partnership (TTIP) currently being negotiated between the United States and the European Union stands to be the largest free trade agreement ever created. The comprehensive trade and investment agreement is an opportunity to modernize trade rules and strengthen the strategic partnership between the U.S. and the EU. This can be accomplished through enhancing trade, finance, and investment opportunities that will in turn foster job creation, economic growth, and international competitiveness.
Policy Recommendations:
- Market Access: USTR should pursue an agreement that eliminates tariff and non-tariff barriers restricting market access, particularly regarding government procurement and services sectors, while ensuring domestic interests are maintained.
- Regulatory Issues: USTR should avoid challenging EU’s adherence to the precautionary principle and instead focus on making incremental changes in regulatory differences in specific sectors os US-EU trade
- Global Trade Rules: USTR should work with EU to establish baseline environmental, labor, and intellectual property rights standards that serve as a model for the international community
