Friday, March 14, 2014
Senate (Omni Shoreham)
With the start of negotiations between the US and EU towards an ambitious trade and investment partnership (TTIP) in June 2013, the idea of a transatlantic market has again appeared on the policy agenda. Unlike the New Transatlantic Agenda more than twenty years ago, substantial media and think-tank scrutiny are now focusing on this particular Free Trade Agreement (FTA), in marked contrast to other significant trans-regional FTAs. For years a trade agreement between the United States and Europe has proven elusive despite persistent calls for deeper market integration. With the stagnation of Doha Round and the acceleration of Asian regionalism, the emergence of free trade agreements has become the new trade norm. However, negotiating rules in many of these areas will prove difficult And this complex agreement has evolved without Trade Promotion Authority making it difficult to ensure Congressional ratification. Despite all the attention given to this trade agreement, is it really that different? What lessons can be drawn from other FTA ? And what influences will domestic politics play in terms of gaining the necessary TPA to achieve Congressional ratification given that this is part of a larger US export promotion strategy?