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Trade agreements with side-effects? European Union and United States to negotiate Transatlantic Trade and Investment Partnership
Abkommen mit Nebenwirkungen? Die EU und die USA stehen vor Verhandlungen über eine Transatlantische Handels- und Investitionspartnerschaft
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Stiftung Wissenschaft und Politik -SWP- Deutsches Institut für Internationale Politik und Sicherheit
Abstract "At the G8 summit in Northern Ireland on June 17, the European Union and the United States kicked off the negotiations for a comprehensive Transatlantic Trade and Investment Partnership (TTIP) to reduce tariffs and non-tariff trade barriers. While the expected economic benefits for both sides would ... view more
"At the G8 summit in Northern Ireland on June 17, the European Union and the United States kicked off the negotiations for a comprehensive Transatlantic Trade and Investment Partnership (TTIP) to reduce tariffs and non-tariff trade barriers. While the expected economic benefits for both sides would be more than welcome in an era of gloomy growth forecasts, a TTIP is not entirely without risks for global trade and the multilateral trading system. The talks could tie up a considerable portion of EU and US negotiating capacity and divert attention from the WTO Doha Round. More broadly, potential trade-diverting effects could function to the detriment of other trading partners. Such side-effects should be avoided. The 'high road' of international trade policy must remain the WTO, with bilateral agreements making sense only as a stepping stone to multilateral liberalisation. Alongside the TTIP talks, the Transatlantic Partners should therefore continue to push for a conclusion of the Doha Round. And the TTIP must be designed to be compatible with WTO rules." (author's abstract)... view less
Keywords
EU; bilateral relations; liberalization; trade barrier; WTO; transaction costs; international agreement; direct investment; commerce; economic relations; trade policy; United States of America
Classification
International Relations, International Politics, Foreign Affairs, Development Policy
Economic Policy
Free Keywords
Marktzugang; Zölle; Nichttarifäre Handelshemmnisse; Auswirkung internationalen Abkommens; Internationale Handelsordnung; WTO-Welthandelsrunde 01. (Doha, 2001-11-09); Dienstleistungen; Handelsumlenkung; Streitbeilegungsverfahren (WTO)
Document language
English
Publication Year
2013
City
Berlin
Page/Pages
8 p.
Series
SWP Comment, 18/2013
ISSN
1861-1761
Status
Published Version; reviewed
Licence
Deposit Licence - No Redistribution, No Modifications