The TTIP is a vehicle to bring Europe to heel on regulatory power

[cali]

It's about establishing regulatory norms and common standards in such areas as copyright, and no, that is not a good thing.

For instance, regulations re food safety in European countries are quite different than those in the U.S. anyone who thinks that this agreement will bring the U.S. more in line with European standards, which are considerably more stringent, is out of his/her mind. Can you really see GMO labeling becoming the law in the U.S. as it is in so many countries in the EU?

and what are the economic benefits if you're not a corporation? Very modest, by the EU's own measurements, which estimates that it would contribute .05% growth over 10 years.




With TTIP, not all is as it seems. Officials from the EU and US would have citizens believe the promotion of trade is the impetus behind free trade negotiations. But slashing already-low tariffs is hardly worth the effort. Instead, the real goal is the implementation of a new regulatory structure. The result: an international policing mechanism unlikely to have been approved via the normal political processes in each country. This is bad news for Europe.

The most important fact to know about the Transatlantic Trade and Investment Partnership (TTIP) is that promoting trade is not really the purpose of the deal. With few exceptions, traditional trade barriers, in the form of tariffs or quotas, between the United States and European Union (EU) are already low. No one would devote a great deal of effort to bringing them down further, there is not much to be gained.

The pursuit of free trade is just a cover for the real agenda of the TTIP. The deal is about imposing a regulatory structure to be enforced through an international policing mechanism that likely would not be approved through the normal political processes in each country. The rules that will be put in place as a result of the deal are likely to be more friendly to corporations and less friendly to the environment and consumers than current rules. And, they will likely impede economic growth.

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http://www.social-europe.eu/2014/02/ttip/

[cali]

1. This is an excellent article. Baker is tremendously knowledgeable

and clear on FTA issues.

from the article:

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The deal is likely to have even more consequences for the cost and availability of prescription drugs. The United States pays roughly twice as much for its drugs as Europeans. This is due to the unchecked patent monopolies granted to our drug companies. A major goal of the pharmaceutical industry is to be able to get similar rules imposed in the EU so that they can charge higher prices.

Just to be clear, this part of the TTIP is 180 degrees at odds with free trade. The pharmaceutical industry will be seeking to make its patents stronger, longer, and more far-reaching, for example by applying protection to the data used to register drugs so that generic competitors cannot enter the market.

There is an enormous amount of money at stake in this battle. The United States spends close to $350 billion a year on drugs that would sell for around one-tenth this price in a free market. The difference is almost 2 percent of GDP or more than 25 percent of after-tax corporate profits. This amounts to a huge transfer from the public at large to the pharmaceutical industry.

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[Hoyt]

2. So, is it possible US has to change some policies/laws more inline with EU to get an agreement?

I don't see that as a bad thing.