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TTIP: The Euro-American trade deal which may be undemocratic

  • December 2014
  • -
  • MarketLine
  • -
  • 23 pages

Summary

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Introduction

The deal has started to cause controversy and numerous anti-TTIP organizations have sprung up to try and stop the deal going ahead. Those in favor of the deal suggest that it will remove trade boundaries between the regions benefiting both regions to the tune of billions of dollars. However those against the deal suggest that the result would be disastrous for the sovereignty of EU member states.

Features and benefits

* Learn what TTIP is and the extent of an impact it will have in the two regions.
* Examine the impact that TTIP might have on how the EU and US does business and their respective governmental systems.
* NAFTA provides some insight into how such a huge trade deal might work and we can assess just what elements might be similar.
* Look at whether protesters are right in saying that TTIP could seriously damage the democratic process.
* Is there evidence to support the claims that TTIP could raise billions in extra trade for the two regions?

Highlights

TTIP is new trade deal which is currently under development between the EU and US. The move is intended to reduce any restrictions to trade between the zones and develop a better partnership. The deal is currently in a delicate position as in Europe there has been a strong reaction to try and prevent or change the deal.
One of the studies on which the EU Commission’s impact assessment was based was from the London-based Centre for Economic Policy Research (CEPR). The study, entitled 'Reducing barriers to Transatlantic Trade', outlines the economic effects of TTIP on both the EU and the US.
Campaigners have been angered by a number of elements that may be part of the deal, these include the Investor-State dispute court and the superseding of democratic processes, the allowing of banned products and industries forced through, the reduction in standards and the relatively unhindered nature of current trade between the economic zones.

Your key questions answered

* What is TTIP and who is involved?
* Why are the EU and US wanting to implement the trade deal?
* Why has it caused so much controversy?
* How could it damage or benefit the EU and US?
* What is the current state of the deal?

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