United States Free Trade Agreement With European Union

At France`s request, trade in audiovisual services was excluded from the EU`s negotiating mandate. [131] The European side insisted that the agreement include a chapter on the regulation of financial services. But the U.S. side, which recently passed the Dodd-Frank Act in this area, opposes it. [132] U.S. Ambassador to the European Union Anthony L. Gardner denied any connection between the two topics. [133] U.S. economist Dean Baker of the Center for Economic and Policy Research said the deal would focus on unconventional barriers, such as. B the non-number of national rules on hydraulic fracturing, GMOs and finance, but also the strengthening of copyright legislation. He further argues that while the forecasts are less ambitious, the economic benefits per household are not impressive: „If we apply the projected 0.21% increase in income to the projected average personal income in 2027, it will be just over US$50 per year. That`s just under 15 cents a day. Don`t go all to the same place. [12] A self-organised European Citizens` Initiative against TTIP and CETA was also launched and collected more than 3.2 million signatures in the space of a year.

[21] [22] A study showed that trade agreements implemented by the EU between 1993 and 2013 „reduced quality-adjusted prices by almost 7%”. [83] Sections 3 to 18 of Chapter II set out general principles for investments. Article 14 contains proposed rules that prohibit governments from „nationalizing, expropriating directly or indirectly”, unless doing so for public purposes, in ordinary judicial proceedings, on a non-discriminatory basis, with compensation. [41] Article 14(2) defines necessary compensation as „the fair value of the investment on the date on which it was announced, immediately before, that the imminent expropriation or expropriation was made public, plus interest at a commercial interest rate established on a market basis”. The negotiations were halted by President Donald Trump[2], which then led to a trade conflict with the EU. Trump and the EU declared in July 2018 a kind of ceasefire and talks that seemed similar to TTIP. [3] On 15 April 2019, the negotiations were declared „obsolete and no longer relevant” by the European Commission. [4] In October 2018, President Trump announced his intention to begin trade negotiations with three new markets, one of which is the EU. President Trump`s goal is to open up new markets for American farmers and businesses, where they currently face significant barriers. One of the following initiatives by European policymakers and the US government was the creation in 1995 of a businessmen`s interest group, the Transatlantic Economic Dialogue (TABD) by authorities on both sides of the Atlantic; 1998, the creation of an advisory committee, the Transatlantic Economic Partnership; 2007, the creation of the Transatlantic Economic Council, in which business representatives from both sides of the Atlantic meet to advise the European Commission and the US government – and finally, in 2011, the creation of a high-level expert group whose 11 conclusions presented on 2 February 2013 recommended the opening of negotiations for a far-reaching free trade agreement. .

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