The Transatlantic Trade and Investment Partnership (TTIP): Economic Benefits and Potential Risks

The United States and the European Union are negotiating a trade agreement—the Transatlantic Trade and Investment Partnership (TTIP)—that politicians and commentators on both sides of the Atlantic hail as the answer to the woes of the transatlantic relationship, as a solution to the EU’s economic difficulties, and as heralding the creation of a new institution that will reinvigorate the Western alliance. But no U.S.–EU agreement can do all that has been claimed of the TTIP, and there are reasons to believe that its benefits have been oversold. The U.S. should support all measures that would promote growth and employment by increasing economic freedom, but it should not accept any agreement that could increase government regulation in the name of promoting free trade and create a transnational regulatory body that could infringe on U.S. sovereignty.

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