Us Eu Trade Agreement 2020

A Joe Biden victory on 3 November would justify the EU`s strategy and end the chronic economic uncertainty linked to Trump and his propensity to flirt with tariffs. A Biden presidency would be an opportunity to reorganise trade relations between the United States and the EU and open up new opportunities for productive cooperation. But the Biden approach may not be as free as the EU would like, with protectionist rhetoric around the US provisions, which play a leading role in its election campaign. And the two powers would continue to disagree on many issues, especially on how best to deal with China. The Guardian called TTIP “the most controversial trade deal ever negotiated by the EU.” [18] TTIP negotiations are criticised and rejected by some trade unions, charities, NGOs and environmentalists, particularly in Europe. [14] [15] The Independent summarizes the negative effects of TTIP as “reducing regulatory barriers to large companies, food security, environmental legislation, banking regulation and sovereigns of different nations”[16] or more critical than “the attack on European and American companies by transnational groups”. [16] German economist Max Otte stated that proposed arbitration (ISDR) and the protection of foreign investment would mean a “total deviation from policy”[19] and that free trade agreements on the labour economy would generally apply lower standards and that the TTIP would put European workers in direct competition with the Americans (and, in fact, under the North American free trade agreement with the Mexicans). which would have an impact on European social models. [19] Otte also concluded: “We really don`t want the social system of these countries [U.S.

and Mexico] here [in Europe].” [19] The Biden campaign did not respond to a request for advice on possible trade objectives with the EU. But Biden`s “Made in America” plan promises to create 5 million jobs in domestic production through tax credits and tighter restrictions on what is considered an American product. In his campaign documents and public statements, Biden said he would focus first on domestic policy programs and right the middle class. The negotiations were halted by President Donald Trump,[2] who then launched a trade dispute with the EU. Trump and the EU declared a ceasefire in July 2018 and resumed talks, which appeared similar to the TTIP. [3] On 15 April 2019, the negotiations were declared “obsolete and more relevant” by the European Commission. [4] Europeans have many reasons to hope for a Biden victory, including the restoration of normality and predictability in America`s relations with its allies after the chaos and mutual misunderstanding of the Trump period. But don`t be under any illusions that Biden is a European in disguise.

Many transatlantic disagreements are to come; And Biden`s priority will be the interests of the United States and its constituents, not the promotion of freer transatlantic trade. Joe Biden, at the White House, would end the risk of a trade war between the United States and the EU and open up new areas of cooperation. But the US and EU still disagree on many issues, especially on how best to deal with China.

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