Transatlantic Trade-Offs
Many observers have high hopes for the Transatlantic Trade and Investment Partnership, which the US and the EU announced last week. But the High-Level Working Group on Jobs and Growth, which was tasked with identifying the policies and measures that should define the negotiations, has rightly recommended a conservative approach.
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LONDON – Almost two decades after the idea was first mooted, the United States and the European Union agreed last week to begin negotiating a Transatlantic Trade and Investment Partnership (TTIP). The partnership’s launch – which should occur at the beginning of 2015 – has been presented as a much-needed “deficit-free stimulus” that would boost US and EU GDP by 0.5% annually, while helping to increase employment on both sides of the Atlantic.