Global Value Chains and the Transatlantic Trade and Investment Partnership (TTIP)

Cleeton, David L. (2015) Global Value Chains and the Transatlantic Trade and Investment Partnership (TTIP). [Conference Proceedings] (Submitted)

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Abstract

Summary: Significant opportunities exist in the TTIP negotiations to strengthen the growth and development opportunities of the transatlantic economy particularly in the dimension of reducing non-tariff barriers by harmonizing product standards and opening up the market for services. Significant roadblocks continue to exist in plainly understanding the tradeoffs. The goal should be clearly stated in terms of the higher importance of moving toward more uniformity of standards rather than focusing on arguments about pushing the level of protection under the standards in a particular direction. There are also a number of key difficulties in opening the financial services marketplace. Most of the controversy is grounded in the approach to regulatory functions, operations, and dimension as both the US and the EU have not done a good job of coordinating their approaches to the recognized major regulatory restructuring needed in the post financial crisis era.

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