EU trade standards and markets are threatened by a trade treaty with US
This is an extract from an article first published in Brighton’s Argus on October 7th.
The European Union is on the brink of signing a transatlantic trade and investment partnership (TTIP) with the US which risks giving more power to large transnational corporations.
A public meeting was held at Lewes Town Hall on Thursday 2nd October to discuss concerns with the TTI partnership organised by local campaigner, Ann Cross.
Linda Kaucher, researcher into international trade at the LSE, explained that the treaty could result in regulatory harmonisation, that is: “a boiling frog.”
The treaty could threaten standards of the food industry and increase the intellectual property rights of pharmaceutical companies across the EU.
If health services are already in the commercial sector, it would be more difficult to exclude US companies. The impact of TTIP on services that are not already privatised is not yet clear.
The purpose of the transatlantic trade and investment partnership is to open up the European Union markets to the US and stimulate economic growth.
It will also serve to simplify the large number of bilateral trade agreements between countries and could become a gold standard.
Dr Peter Holmes who attended the meeting said: “every trade agreement is not a neoliberal conspiracy.”
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