Essay On Ttip

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TTIP Affects upon the USA and the EU
The Transatlantic Trade and Investment Partnership(TTIP) is a multinational economic agreement that is being negotiated between the European Union and the United States. TTIP is expected to increase free trade, harmonize regulations, and create a more competitive, inclusive global market. If TTIP becomes a reality, then it will be the largest trade agreement ever, since the countries within T TIP represent 12% of the world population and 30% of global trade. By cutting tariffs and getting rid of non-tariff trade barriers (NTB), TTIP will permanently increase the level of GDP per capita for the EU and the US. Politically, this deal would be advantageous since it would pull the United States and Europe
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The standardization of licensing/approvals and an open market means that professionals will be more mobile and competitive. TTIP also aims to preserve national rights to regulate services and impose work quality and safety standards into place. (European Union 2015)

Rules and Regulations
TTIP aims to increase regulatory cooperation in order to create a fair, free market. By removing the technical barriers to trade and increasing regulatory cooperation, a fair market can be made wherein the quality of products does not decrease. As of 2015, TTIP covers the regulation of the following: chemicals, cosmetics, engineering products, information and communication technologies, medical devices, pesticides, pharmaceuticals, textiles, and vehicles. TTIP also covers the regulation of food safety and animal and plant health. There has been much concern about the food safety regulations. The EU and the US have different regulations, with the EU being stricter in some areas while the US is stricter in others. However, food safety regulations are generally looser in the US. It is difficult to make sanitary and phytosanitary regulations the same since Americans and Europeans have different concerns. The Europeans, for example, are generally against GMO’s and the use of pesticides while the Americans just regulate them. Europeans and Americans have different sets of concerns and regulations for every
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