Transatlantic Trade & Investment Partnership
The Transatlantic Trade and Investment Partnership (TTIP) is a negotiating process between the EU and the US which could “at a stroke liberalise a third of global trade”.
The economic relationship between the US and the 27 countries of the EU is the biggest in the world, accounting for approximately half of global GDP. However, various barriers on both sides of the Atlantic are perceived as hindering the emergence of a truly free transatlantic market place. The proposed deal could be of huge benefit to businesses on both sides of the Atlantic and add billions of pounds of investment to the already massive trade and investment relationship shared between Europe, the UK and the United States. UK Prime Minister David Cameron has said that this could be “the biggest bilateral trade deal in history”.
Click here to find out more about how TTIP could actually help your business.
Please see below for some key facts, resources, academic research.
EU & US Economic Relationship
- The US is the EU’s largest trading partner.
- The EU and the US account for about half of world GDP (47%).
- Each day goods and services of almost €2 billion are traded bilaterally, creating jobs and growth in our economies.
- According to the Commission, TTIP could add over £100bn to EU GDP and over £80 billion to US GDP.
- TTIP is also expected to benefit the rest of the world, with knock on gains that could generate £85 billion worldwide.
BritishAmerican Economic Relationship
- The US and the UK are each other’s largest foreign investors. This investment supports over a million jobs in each country.
- US investment stock in the UK is £200bn (2011), eight times the US investment stock in China.
- The Government estimates that TTIP could boost the UK economy by as much as £10 billion each year.
US Government Resources
- Department of Business, Innovation & Skills TTIP Info Sheet
- Video: TTIP Explained: Understanding the Transatlantic Trade and Investment Partnership, by IBT Partners
- Directives for the negotiation on the Transatlantic Trade and Investment Partnership between the European Union and the United States of America, 9 October 2014
AmCham EU’s position on the Transatlantic Trade and Investment Partnership (TTIP) Building the framework for strengthening the transatlantic partnership, 14 March 2014
- USTR Updates from the First Round of TTIP Negotiations
- EU Commission Minutes from the First Round of Negotiations, 16 July 2013
- EU Civil Society Dialogue
- European Council gives European Commission a mandate to start negotiations, 14th June 2013
- Obama Administration Notifies Congress of Intent to Negotiate Transatlantic
- State of the Union, President Obama announces that the US will enter a Transatlantic Trade & Investment Partnership with the EU, 12th February 2013
- Announcement of trade negotiations at G8 Summit, 17th June 2013
- High Level Working Group Final Report, 11th February 2013
- EU/US High Level Working Group on Growth & Jobs
- European Commission Fact Sheet
- European Parliament resolution of 23 May 2013 on EU trade and investment negotiations with the United States of America (2013/2558(RSP))
- TTIP and the Fifty States: Jobs and Growth from Coast to Coast, By Atlantic Council, 24 September 2013
- Proposed Transatlantic Trade and Investment Partnership (TTIP): In Brief , By Shayerah Ilias Akhtar Specialist in International Trade and Finance, Vivian C. Jones, Specialist in International Trade and Finance, Congressional Research Service, 23 July 2013
- House of Commons Library, Transatlantic Trade and Investment Policy Factsheet
- Estimating the Economic Impact on the UK of a Transatlantic Trade and Investment Partnership (TTIP) Agreement between the European Union and the United States, Centre for Economic Policy Research, London, March 2013
- Atlantic unity in global competition: T-TIP in perspective, Klaus Gunter Deutsch, Deutsche Bank AG, 19 August 2013
- EU/US agreements with The Republic Korea as indicators for TTIP, Sidley Austin LLP
- The Transatlantic Trade and Investment Partnership: Ambitious but Achievable – A stakeholder survey and three scenarios, Atlantic Council & Bertelsmann Foundation, April 2013
- Towards a Strategic Vision for the Transatlantic Market – Transatlantic Policy Network, October 2011
- The Transatlantic Economy 2013, by Daniel Hamilton and Joseph Quilan