Maine could realize significant benefits from a free-trade agreement
the United States is negotiating with the European Union, according to a
high-ranking British diplomat who spoke in Portland on Thursday
morning.
While the U.S. and EU economies are already relatively open, deals that further reduce trade barriers present real opportunities to increase Maine exports and create jobs, according to Rosalind Campion, counselor for global issues at the British Embassy in Washington, D.C.
“It’s much easier to do business with Europe than it is in many other parts of the world,” Campion said. “But that also means relatively small changes can deliver really big gains. You reduce one tariff line and that affects a huge range of companies and a huge range of individuals who are then able to get their goods traded.”
Wood and paper products is the sector that could realize the greatest gains, boosting exports by $54 million by 2027. The study also lists projected export increases of chemicals ($40 million), transportation equipment ($32 million) and other machinery ($16 million).
Maine House Rep. Sharon Treat, a Democrat from Hallowell and member of the Maine Citizen Trade Policy Commission said she worries that the TTIP would threaten Maine’s sovereignty by allowing a multinational trade agreement to trump state law. That would create challenges to legislators who may want to pass laws concerning safety and product standards in Maine, such as a ban on baby products made with the chemical bisphenol A.
Negotiations on TTIP are expected to continue with the seventh summit, to be held the week of Sept. 29 in Washington, D.C.
EU-Digest
While the U.S. and EU economies are already relatively open, deals that further reduce trade barriers present real opportunities to increase Maine exports and create jobs, according to Rosalind Campion, counselor for global issues at the British Embassy in Washington, D.C.
“It’s much easier to do business with Europe than it is in many other parts of the world,” Campion said. “But that also means relatively small changes can deliver really big gains. You reduce one tariff line and that affects a huge range of companies and a huge range of individuals who are then able to get their goods traded.”
Wood and paper products is the sector that could realize the greatest gains, boosting exports by $54 million by 2027. The study also lists projected export increases of chemicals ($40 million), transportation equipment ($32 million) and other machinery ($16 million).
Maine House Rep. Sharon Treat, a Democrat from Hallowell and member of the Maine Citizen Trade Policy Commission said she worries that the TTIP would threaten Maine’s sovereignty by allowing a multinational trade agreement to trump state law. That would create challenges to legislators who may want to pass laws concerning safety and product standards in Maine, such as a ban on baby products made with the chemical bisphenol A.
Negotiations on TTIP are expected to continue with the seventh summit, to be held the week of Sept. 29 in Washington, D.C.
EU-Digest
No comments:
Post a Comment