Transatlantic Trade and Investment Partnership (TTIP)
— The biggest trade deal in the world
ISDS – Facts about Investor to State Dispute Settlement
Read the fact sheet on Investment Protection and Investor-to-State Dispute Settlement in EU agreements (26 November 2013) and the main achievements of the EU- Canada CETA (27 November 2013)
Quick Facts on TTIP
- TTIP is a trade and investment agreement under negotiation between the EU and the US.
- TTIP is designed to drive growth and create jobs.
- Independent research shows that TTIP could boost:
- the EU's economy by €120 billion;
- the US economy by €90 billion;
- the rest of the world by €100 billion
- Talks started in July 2013.
TTIP in a nutshell
- What is TTIP?
- How Europe can benefit from TTIP
- Latest round of negotiations
- Key documents
- Questions and answers
Second round of negotiations for the TTIP press conference
Overcoming Barriers to Growth - Aspen Institute, Prague Annual Conference
First round of the EU/United States trade and investment negotiations
The TTIP aims to cut red tape and coordinate rule making. Red tape & Rules
European Parliament debates EU-US trade agreement / Statement by Commissioner De Gucht
An extra €120 billion for Europe. Economic impact and statistics
The Transatlantic Trade and Investment Partnership (TTIP) is a trade agreement that is presently being negotiated between the European Union and the United States.
It aims at removing trade barriers in a wide range of economic sectors to make it easier to buy and sell goods and services between the EU and the US.
On top of cutting tariffs across all sectors, the EU and the US want to tackle barriers behind the customs border – such as differences in technical regulations, standards and approval procedures. These often cost unnecessary time and money for companies who want to sell their products on both markets. For example, when a car is approved as safe in the EU, it has to undergo a new approval procedure in the US even though the safety standards are similar.
The TTIP negotiations will also look at opening both markets for services, investment, and public procurement. They could also shape global rules on trade.
Because the EU-US trade relationship is already the biggest in the world – every day we trade goods and services worth €2 billion, every trade barrier we remove could result in significant economic gains.
An independent report suggests that an ambitious agreement could result in millions of euros of savings to companies and create hundreds of thousands of jobs.
It's expected that every year an average European household would gain €545, as our economy would be boosted by 0.5% of GDP, or €120 billion annually, once fully implemented.
The extra economic growth will benefit everyone; boosting trade is a good way of boosting our economies by creating increased demand and supply without having to increase public spending or borrowing.
During the first round of the trade and investment talks, which took place in Washington D.C. in July 2013, negotiating groups set out respective approaches and ambitions in some twenty areas covered by the TTIP. The negotiators also met with 350 stakeholders to listen to formal presentations and answer questions.
The second TTIP negotiation round took place on 11-15 November 2013. A third round will be held in Washington DC the week of the 16th December 2013.