Transatlantic Trade and Investment Partnership between the EU and the USA: Initial Appraisal of the Commission's Impact Assessment

15-04-2013

This note seeks to provide an initial analysis of the strengths and weaknesses of the European Commission's Impact Assessment (IA) accompanying its proposal to the Council to authorise the opening of negotiations on a Transatlantic Trade and Investment Partnership between the European Union and United States of America, submitted on 12 March 2013. The European Union and the Unites States together account for about half of the world GDP (47%) and one third of global trade flows. They are each other's main trading partners and enjoy the largest bilateral trade relationship in the world. On 13 February 2013, the EU and the US leaders decided to take their economic relationship to a higher level by agreeing to launch negotiations for a comprehensive trade and investment partnership, which will aim to go beyond the classic approach of removing tariffs and opening markets on investment, services and public procurement. According to the Commission, the successful conclusion of such an agreement, which would be the biggest bilateral trade and investment deal ever negotiated, could add 0.5% to the EU's annual economic output.

This note seeks to provide an initial analysis of the strengths and weaknesses of the European Commission's Impact Assessment (IA) accompanying its proposal to the Council to authorise the opening of negotiations on a Transatlantic Trade and Investment Partnership between the European Union and United States of America, submitted on 12 March 2013. The European Union and the Unites States together account for about half of the world GDP (47%) and one third of global trade flows. They are each other's main trading partners and enjoy the largest bilateral trade relationship in the world. On 13 February 2013, the EU and the US leaders decided to take their economic relationship to a higher level by agreeing to launch negotiations for a comprehensive trade and investment partnership, which will aim to go beyond the classic approach of removing tariffs and opening markets on investment, services and public procurement. According to the Commission, the successful conclusion of such an agreement, which would be the biggest bilateral trade and investment deal ever negotiated, could add 0.5% to the EU's annual economic output.