The Rise and Challenge of the United States-European Union Transatlantic Trade and Investment Partnership
Author: Catherine Li
Abstract / Chinese PDF Download
The Transatlantic Trade and Investment Partnership (TTIP) negotiated by the United States and the European Union is widely considered as the largest and most ambitious regional free trade agreement in the history of international trade. While the United States and the European Union broadly agree that market access problems traditionally covered in free trade agreements would be the subject of TTIP obligations, they have sharply divergent views regarding how to deal with differences in evolving regulatory policies in each market. Between October 2013 and June 2017, fifteen formal negotiation meetings have been held between representatives of the European Union and the United States. In January 2017 and again in early June 2017, update meetings have been held to review progress between the European Union and the Trump administration. Despite several statements from President Trump and a report by the European Union on the state of play for a final TTIP agreement, the current position on TTIP is unclear. There have been contradictory reports on the Trump administration’s approach to TTIP since January 2017.Therefore, successful conclusion of TTIP is far from certain. This uncertainty does not just stem from the usual political problems but also from the technical difficulties associated with the removal of non-tariff barriers. It has the potential to lead to instability in international trade, a slowing of global economic growth and new divisions in the international community. It does not mean that the TTIP negotiations between the European Union and the United States will be completely wasted. A new trade model, a new type of agreement and a new name for a trade partnership might emerge.