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4/25/17

EU-US Trade Deal: TTIP stumbles on - by Peter Sharpless

The much-discussed Transatlantic Trade and Investment partnership is on the verge of collapse after the French government threatened to stop the deal at its present stage due to concerns over effects on the environment and consumer rights.

This comes amid a scandal after Dutch Greenpeace leaked documents from the negotiations between U.S. and E.U. officials. The talks have been held mostly in secret but what is known about the negotiations concerns Trade Unions, campaign and environmental groups all over Europe.

What is TTIP? - TTIP is a trade agreement which is being negotiated between the E.U. and the U.S. since last February. The aim of the agreement is to reduce the regulatory barriers on trade for big business and come to a mutual recognition of each other’s trade standards. Something which could potentially affect things like food safety law, environmental legislation, banking regulations and the sovereign powers of individual nations. It has been hotly debated how far along negotiations actually are, but a chart that has been leaked states that they’re at an advanced level.

The deal isn’t completely dead in the water but it is struggling for air; and it is looking increasingly unlikely after these latest setbacks that the deal will get the go ahead. For the Transatlantic Trade and Investment Partnership to become law it requires ratifying by each one of the 28 member states of the E.U.; and with protests springing up and persisting in various European cites, it is an uphill challenge in which the hill keeps growing to get TTIP enshrined in law. This latest round of negotiations was the 13th and on conclusion of the round the EU’s chief negotiator for TTIP Ignacio Garcia Bercero said in a statement: “On the E.U. side we are ready to work hard to try to conclude these negotiations in 2016 but, only if the substance of the deal is right. It needs to be the most ambitious, balanced and comprehensive agreement ever concluded between either us or the U.S.”

Read more: TIP stumbles on | Holland Times

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