T-Tip Free Trade Agreement

From the point of view of total net benefits, various studies have made estimates of TTIP benefits. They show that the most positive results are largely due to the elimination of non-tariff barriers and the harmonization of regulatory and production standards of the United States and the European Union. On the other hand, the reduction in tariffs, although it can generate profits, has a less dramatic effect, given that the current level of tariffs, which is on average around 4%, is already low. Nevertheless, there are also arguments against the agreement and cause fear and insecurity in sectors that, after the implementation of the agreement, see themselves as potential losers, without the sign of a compensatory alternative. But President Trump has not made the treaty a priority. Instead, Trump has threatened a transatlantic trade war. As a result, contract negotiations focus on areas that concern both parties. Representatives made progress in harmonizing security review procedures and other provisions. The resulting agreement will be much smaller and less important than the original TTIP. . . .