Advantages and threats of the Transatlantic Trade and Investment Partnership (TTIP)

Key words

Transatlantic Trade and Investment Partnership (TTIP) non-tariff trade barriers export import

Abstract

The Transatlantic Trade and Investment Partnership (TTIP) is a major trade pact created to further integration of the EU and US economies. In today’s low-tariff reality, the agreement concentrates on eliminating nontariff trade barriers between the states, such as the differing standards in the European union and in the United States for given consumer goods and services. Unfortunately, a number of barriers threaten ratification. The agreement remains far from implementation and it is hard to measure how the two sides would benefit from it equally.