TTIP and Its Public Criticism: Anti-Globalist Populism versus Valid Dangers

Abstract

The provisions of the proposed Transatlantic Trade and Investment Partnership (TTIP), the major trade agreement between the EU and the US received serious criticism from the public, some NGOs and even some scholars. Disputes surrounding many of its special provisions got highly emotional, with extreme commentaries in the media. There is a high chance the conclusion of the deal will be blocked because of public opposition. This article tries to analyse four of the most important questions, namely the transparency of negotiations, the issue of investor-state dispute settlement, and the agreement’s effects on environment-sustainable development and regulatory issues/consumer standards. Based on the analysis, it concludes that even though TTIP may contain some serious pitfalls, there is a high chance it would not lead to the devastating results as is regularly portrayed, and most of the problematic points could be settled relatively easily.

Keywords: TTIP, trade, populism, demagoguery, free market, environment protection

JEL Classification: F1 Trade, K33 – International Law, K2 Regulation and Business Law