The Pros And Cons Of Transatlantic Trade And Investment Partnership

For years countries are trying to improve relations and to increase trade possibilities by making international trade agreements. Currently, Europe and The US are trying to reach an agreement which should make trade more efficient and cheaper. This agreement is called TTIP, Transatlantic Trade and Investment Partnership. However, there are several perspectives on this agreement from the European point of view. On one hand people are in favour of it because it will stimulate the European economy. On the other hand others see it as a threat to our democracy and safety. In this essay both perspectives will be clarified but first there will be a more extensive explanation what TTIP exactly is.
To start off with, the Transatlantic Trade and Investment …show more content…
This is because the deal works both ways. European companies can invest in the US, but US companies can invest in Europe too. The European Commission states that this leads to a wider range of choice for the consumer and lower prices. However, the European Commission cannot be seen as an objective source. We should keep in mind they are in favour because they want a growing economy. Ecoroys has done an independent study about the effects TTIP will have and they do not support the view of the European commission. According to them the consumer prices will rise with 0,3 percent because there will be a high demand for European products in the US. A high demand means higher prices for the …show more content…
People argue there are more disadvantages in this for Europe. Many people fear TTIP will be at the expense of the European safety and consumer protection. Right now the US and Europe have different rules and standards a product has to meet. To make trade easier and cheaper the US and Europe want to have the same rules. The European Commission denies this will lead to lower standards . They claim that the rules are different, but meet the same level of safety. However, other sources like the International Environmental Law cannot confirm that. Their research about the norms of pesticides has shown that TTIP will weaken European laws and allow US products, which meet lower regulations rules to enter Europe. According to Science Direct Europe has forbidden 1300 food chemicals and the US has forbidden eight. So by accepting TTIP US corporations will be able to sell food in Europe which does not meet the European