Transatlantic Trade Investment Partnership (Case Study Sample)
Unit VIII Case Study
In Chapter 11 of your International Trade textbook on pages 391-394, you will find information on trade and the environment, in particular, information on the biotech trade from the United States to Europe.
Please read this article in detail and then use any online sources that you might have to look up information on the Transatlantic Trade Investment Partnership (TTIP). With this information, make an assessment on the talks between the United States and the European Union to see what sticking points there are in this new agreement that is being negotiated. Then, come up with solutions to the sticking points in the negotiations.
Your case study should be at least 500 words in length. All sources used, including the textbook, must be referenced; paraphrased and quoted material must have accompanying citations.
Transatlantic Trade Investment Partnership
The European Union is negotiating an investment and trade deal with the United States, known as the Transatlantic Trade Investment Partnership (TTIP). With TTIP, the European Union wants to help small and large businesses and even European people, by: opening up the United States to European Union companies; helping to reduce formalities that businesses face whenever they export to America; and developing new rules that will make it fairer and easier to invest, import, and export overseas (Bledowski, 2014). In essence, the TTIP would bring about more growth as well as new opportunities by removing tariffs and bureaucracy whenever possible in order to decrease costs and open up new markets. In turn, this would make it easier for business organizations both in the EU and the United States to access the markets of each other.
There are quite a few sticking points in the negotiation. The sticking points are largely non-tariff barriers aimed at protecting domestic companies and further trade policies of the individual countries. Although duties and tariffs have reduced, the US and the EU both maintain various non-tariff impediments. For instance, at the moment, rules in the United States prohibit certain cheeses and food products from Europe although the European Union has put in place its own stern rules on all foods (Bledowski, 2014). Moreover, motor vehicle emissions and mileage requirements specified by the United States Environmental Protection Agency are in fact sterner than those in E.U member states. These requirements essentially add to the cost of motor vehicles produced in the European Union.
Food additives are the other example of non-tariff obstacle res...
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