Written last month but has a lot of good details in it about TTIP…-A.M.
With talks on the EU-US transatlantic free trade deal set to continue next month, this week’s outrage over a European Parliament vote on genetically modified corn will hardly be the last obstacle negotiators face.
This (17.02.2014), EU trade chief Karel de Gucht and his US counterpart Michael Froman are scheduled to meet in Washington to discuss the Transatlantic Trade and Investment Partnership (TTIP), a transatlantic free trade area. They are expected to make a political assessment of the past three rounds of US-EU trade talks and to discuss the upcoming fourth round of negotiations in March.
The pact would unify standards and licensing procedures across a EU-US trade zone and would waive tariffs on goods traded between the EU and the US. According to the Munich-based IFO institute, the treaty will create up to 400,000 new jobs in Europe – 110,000 of them in Germany alone. A done deal, it would seem.
But the deal is far from done: the EU and the US differ over a wide variety of issues, one of which is genetically modified food. Last week, a new type of genetically modified corn from the US won EU approval amid great controversy after the EU’s Council of Ministers failed to gain a clear majority to block it. The decision paves the way for compromise over one of the differences in EU-US consumer attitudes that has been a stumbling stone in TTIP negotiations.
But opponents of the trade pact are becoming more vocal, and more debates over standards, consumer protection, cultural protectionism threaten to erupt when EU-US negotiators get down to the deal’s fine print and put the agreement up for domestic scrutiny.