Transatlantic Trade Agreement Pros And Cons

Many industries could suffer from increasing competition from Europe. This could result in fewer jobs for American workers. These disadvantages are edsed to any trade agreement. Based on an optimistic calculation that each citizen will have an equal share of the EU`s annual profit of 119 billion euros from this trade agreement, the European Commission predicts that each person in Europe will be 545 euros richer. The United States will also earn 95 billion euros a year. Sounds good, doesn`t it? But, as Owen Tudor pointed out, „The precedent shows that if you increase the GDP of countries that have such a bad defense against inequality, the very rich are only getting richer. No one believes Trickle`s theory anymore, not even the Rip van Winkle who`s been asleep for 30 years. GRAPHIC 2: Goods, services and inversions exchanged (inversion data will not be available until 2013) [7] The main common benefits for the United States and the EU are stronger economic growth, more trade opportunities and more jobs. There will then be some additional and no less important benefits, such as lower prices for EU products in the US market and vice versa, wider consumer supply, uniform standards for all sectors and simplification of access to US or EU markets. These are the advantages that both parties have officially announced to support their arguments in favour of the TTIP agreement. This week, London`s Conway Hall hosted a Guardian membership event, where the pros and cons of TTIP were discussed. The discussion was chaired by Larry Elliott, editor-in-chief of the Guardian, and the body was composed of Claude Moraes, Labour MP; Owen Tudor, head of the European Union and International Relations, TUC; John Hilary, Executive Director of the war on Want charity; And Vicky Pryce, Chief Economic Advisor at the Centre for Economics and Business Research. There was also a room full of passionate guardians.

So what have we learned? 1. Economic and Monetary Union (EU) 7. Full Economic Integration In the United Kingdom, there is concern about the possible privatization of valuable public services – education, transport, water, the NHS – and the possibility of US companies running British institutions. Whether this may or may not be done, Vince Cable has acknowledged these concerns, but has yet to go to the European Commission to write it into the agreement, Hilary said. While the Treaty officially aims to integrate European and American markets, remove the current barriers and tariffs and thus create the largest (and most powerful) space for the free movement of goods and people between countries with free market economies, much of the public opinion – particularly in Europe – believes that the agreement has a negative impact on the agreement. , dangerous consequences. Few services are said to be paid at a high price in terms of food safety and commercial safety, consumer health, which undermines the protection of local products and workers` rights. The aim of the Transatlantic Trade and Investment Partnership (TTIP) is to create a free trade agreement between EU member states and the Us.