Crunch time in EU-US trade talks: a final push
The ninth round of U.S. - EU trade talks takes place this week in New York with the clock ticking. Both sides want a Transatlantic Trade and Investment Partnership agreement, or TTIP, before the US election campaign heats up and complicates the process.
GFX: ``TTIP boost: estm 150bn euros´´ (arrow up)
A TTIP that tears down trade barriers would give a needed boost to a European economy heavily dependent on exports for growth.
GFX: ``36 million EU jobs tied to global trade´´
And helping Europe´s company´s grow, in particular SME's, means more jobs beyond the millions already linked to foreign trade.
GFX: European manufacturing European shoppers
It´s a win-win proposition for everybody: competitive EU companies can sell more products, hire more employees and usually pay higher salaries. At the same time, consumers benefit from a cheaper and wider range of goods and services.
GFX: Company office, paperwork Workers
Moreover, TTIP aims to cut unnecessary regulatory duplication which cost businesses and, ultimately consumers, money. And without lowering environmental, labour or consumer standards.
GFX: EU-US trade: 54% of global trade (e.g. pie graph superimposed on port ships)
A TTIP agreement would create a trade area making up more than half of all global trade.
Milan beauty shot
That´s why the EPP Group wants to accelerate negotiations with strategic partners like the US, without compromising on health and consumer safety. But it is a complex endeavour, thus the protracted talks. The Group will discuss its policy position on the transatlantic dimension on Trade in Milan at the end of the week.
Ioannis ZografosEPP TV Managing ProducerBelgiumIoannis.email@example.com+32(0) 2 284 18 45