Strategic Opportunity or Sellout of the Public Interest – The Transatlantic Trade and Investment Partnership

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TTIPAfter nearly two decades of attempts to negotiate a Transatlantic Free Trade Agreement, the U.S. and the European Union are finally moving together on a major project – the Transatlantic Trade and Investment Partnership. Now that an agreement finally seems to be within reach, however, many of the countries involved in the negotiations are experiencing a rise in public opposition against an alleged weakening of consumer protection standards and the excessive influence of industry on and insufficient transparency of the negotiations. Proponents of the agreement, on the other hand, point to additional jobs and growth that would be generated by the demise of the remaining barriers to transatlantic trade. The one thing on which both sides agree, however, is that TTIP will define transatlantic relations – and major aspects of the global economy – for years to come. Arguably, it will be the West’s last best chance to exercise such commanding influence over the global economy.