10 Reasons why the Transatlantic and Trans-Pacific Partnerships are Good for America
1. TTIP Will Increase Trade Between the US and EU
The Transatlantic Trade and Investment Partnership (TTIP) is a highly anticipated free trade agreement between the United States and the European Union. The agreement is still in its initial stages of negotiation with only eight rounds completed to date.
TTIP is intended to increase trade between the US and the EU in order to stimulate economic growth in both blocs. With sluggish growth on both sides of the Atlantic since the financial crisis that started in 2008, TTIP is a good idea. The European Commission calls the agreement “the cheapest stimulus package imaginable.”
Negotiations for the TTIP started in June 2013 and negotiators hope to conclude the deal by the end of this year. The TTIP is a massive undertaking — the combined GDP of the US and EU represent 50% of world GDP.
