US firms seek EU’s help in TTIP talks

US firms seek EU’s help in TTIP talks

July 20, 2021 Comments Off on US firms seek EU’s help in TTIP talks By admin

EU trade ministers have said they want the United States to step up its efforts to defend its interests as talks with the bloc’s 27 other members intensify.

In a joint statement on Friday, EU Trade Commissioner Karel De Gucht and US Trade Representative Robert Lighthizer said the talks were “at a critical stage” but they were ready to consider “any steps” to protect US interests.

The two EU leaders have previously expressed concern over US concerns that TTIP would allow companies to sue countries that have challenged US rules.

They said they were open to working with the US and its allies to address those concerns and that they would “seek to continue working with partners” to ensure TTIP does not infringe on EU consumers and environment.

“The negotiations have gone well and the US has made significant progress,” De Gocht said.

“I would like to see the US continue to support the negotiations and the efforts of the European Commission to achieve their goals, especially as we continue to engage with other countries to further strengthen the rules-based, free-trade agreement.”

De Guchts statement said the US government has “strong interests in the TTIP negotiations” but added that the “possible impact of TTIP on US companies will not be a good thing for the US economy”.

“The US has a legitimate interest in promoting the TTip agreement and ensuring that it does not negatively impact US businesses,” he said.

De Gochts statement came as the US Trade Representatives Office, which represents US businesses, expressed concern about concerns raised by the EU and the United Kingdom about TTIP.US Trade Representative Rob Nabors, who is also EU Trade Representative, said that the EU was working with other US allies to “ensure the protection of our interests”.

“We are prepared to engage and work with other member states and stakeholders to ensure that TTip is not seen as an infringement of EU and US law,” he told the Wall Street Journal.

“As the trade negotiations continue, we will continue to work closely with the European Union and the Commission to advance our interests and values,” Nabors added.

The US Trade representative said that he hoped to work with the EU, the United Nations and other partners to address the concerns raised about the potential effects of TTIF on the US market.

DeGuchts statements came after De Gschmidt said on Friday that the talks with other EU countries had not yet begun.

He said he hoped that “things will move in a constructive way” as TTIP was expected to be signed into law by the end of March.

TTIP, the Transatlantic Trade and Investment Partnership, would give EU countries preferential access to the US markets.

De Gaulle, a French president, has been a vocal critic of the Trans Pacific Partnership (TPP), a trade deal between the United Sates and 11 other Pacific Rim nations that is seen as undermining the EU’s sovereignty.

The talks were suspended in June 2016 over concerns that the pact could damage the US trade relations with the rest of the world.

Degutts statement also echoed comments by US Secretary of State John Kerry, who said on Thursday that TTIF would be “unlikely to result in more jobs than we would get from the TTIF agreement”.

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