TTIP

Transatlantic Trade and Investment Partnership

As with many major undertakings, TTIP has points which are potentially both positive and/or negative.   In the public debate on both sides of the Atlantic, the supporters emphasize the positive effects of simplifying industrial standards, reducing tariffs and strengthening intellectual property rights while ignoring the emotional topics of data protection, genetically altered food, residual growth hormones and antibiotics in processed meat, as well as the power to be given to corporate lawyers, while the detractors do the opposite.

Just how good the treaty will be depends on current negotiations and subsequent review.  As conceived, TTIP will not do away with national health standards, e.g., in the food industry.  Also, the negotiations are only the first step and are to be followed by a review (called scrubbing) by lawyers on all sides and final review and approval by all national legislatures before it goes into effect.  Regardless of what the lobbyist tell us, there is absolutely no call for panic; the review and approval mechanism will ensure a positive outcome that is agreeable to all.  We encourage our members and friends to form their own opinion and make it known to their elected representatives. 

As a thought starter, here are some pros and contras:

Supporter - Arguments

10 Reasons … to Support the Transatlantic Trade and Investment Partnership (TTIP)

1. Economic Growth

According to estimates, TTIP could boost the transatlantic economy’s GDP between 1.5 and 3.5 percent.

2. Increase in Foreign Trade

TTIP would significantly increase foreign trade between the EU and the US.

3. Chance to Set Global Standards in Industry and Services

Common standards would improve the position of the transatlantic partners in regard to global trade.

4. Strengthening Innovation Potential

Innovation is a key driver for growth. A comprehensive TTIP would further strengthen innovation, research and development.

5. More Labor Mobility

A comprehensive agreement could significantly influence the mobility of skilled and specialized professionals, thereby counteracting the shortage of skilled workers on both sides of the Atlantic.

6. Creation of 400,000 New Jobs

Increases in exports and new investment opportunities would create new jobs in both economic areas. 

7. Investment Boost

TTIP would create new opportunities and incentives for companies to invest in the transatlantic marketplace.

8. Welfare Gains for Everyone

Existing free trade agreements show that comprehensive trade liberalization generates long term economic prosperity for partner states.

9. Increase in Competitiveness

The EU and the US could expand their position in international trade as the driving forces of the global economy.

10. Deepening of Transatlantic Values

- The transatlantic relationship that is based on trust, transparency and common principles would be further strengthened.

Opponent - Arguments

Good reasons not to rush

TTIP versus Domestic Laws

Any standardization has consequences on the domestic and local level. 

Environmental Protection

Several countries have established high level environmental protection laws. These laws are challended by TTIP.

Agricultural Self-Sufficiency

TTIP would significantly increase food imports and put local farmers livelihoods at risk.

Interests of Corporations

Environmental protection, food protection, and health regulations are often not in the interest of corporations, their financers and their lobbyists. Their influence in the negociations is a latent danger for future generations.

Source: ©copyright American Chamber of Commerce in Germany e.V.

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