picture source: http://one-europe.info/
The TTIP - Transatlantic Trade and Investment Partnership
The TTIP has been a frequent theme on Swedish news in recent months, as well as a hot topic in other European countries and the US.
The TTIP would encompass almost half the global economy and could generate $100 billion (900 billion SEK) a year in additional economic output on both sides of the Atlantic. The idea is to open up the US to European firms
as well as create a more simple and fair export, import and investment process
through the agreement. However, as a Swedish reporter last week wisely said, "a trade agreement is not good or bad in itself, but rather the content of this agreement is what determines its success or failure".
Arguments are made in the media from both sides, and the main discussion concerns the European Union's fear of U.S. multinationals use of a so-called investor-to-state dispute settlement (ISDS) mechanism to challenge its food, labor and environmental laws on the grounds that these restrict free commerce. The United States, however, will not accept a deal without the ISDS.
As of now, hopes are that a trade deal will be reached by the end of 2015.
Read more about the TTIP on one-europe
, as well as on nytimes.com
about how it might impact your business.