One Year into the TTIP Negotiations: Getting to Yes
5 Pages Posted: 15 Jan 2015
Date Written: September 29, 2014
In early 2013, the Transatlantic Trade and Investment Partnership (TTIP) negotiations were introduced with great fanfare in President Obama’s State of the Union speech. The world’s two largest economic zones would be united in a trade and investment pact, which would generate new economic growth at a time when it was desperately needed. Negotiations began in July of that year, with promises that this negotiation would not drag on endlessly, as some other trade talks have.
We are now just over one year into the process, with the sixth round of talks having just taken place July 14-18 in Brussels and the seventh round to be held from September 29 through October 3 in Washington. It is time for an evaluation of what has been achieved. Are the talks progressing as rapidly as hoped? Are the hurdles surmountable? Will this giant free-trade zone actually come to fruition?
This bulletin examines the current state of the TTIP talks relative to expectations and in the larger context of the world trading system. It describes some of the main stumbling blocks that have arisen and makes suggestions for moving the process forward.
Keywords: trade agreement, regulatory trade barriers, ISDS mechanism, globalization
JEL Classification: F1, F13, F4, F42
Suggested Citation: Suggested Citation