- - news, features and articles for the meat processing industry

USDA International Egg and Poultry

14 August 2013

USDA International Egg and Poultry: Transatlantic Trade and Investment Partnership (T-TIP)USDA International Egg and Poultry: Transatlantic Trade and Investment Partnership (T-TIP)

The US and EU recently held the first round of successful meetings on the Transatlantic Trade and Investment Partnership (T-TIP) July 8- 12, 2013 in Washington, DC.
USDA International Egg and Poultry

A second round of meetings is scheduled for October 2013 in Brussels, Belgium. At present, the US and EU already have the largest trade relationship in the world. T-TIP would be the largest bilateral trade agreement ever negotiated. According to sources, the EU and US account for nearly half of the world’s GDP and 30% of world trade with exchanges of goods and services worth around €723 billion a year and €1.8 billion a day.

T-TIP will be an ambitious, comprehensive, and high-standard trade and investment agreement that offers significant benefits in terms of promoting US international competitiveness, jobs, and growth. In particular, T-TIP will aim to:

  • Further open EU markets, increasing the $458 billion in goods and private services the US exported in 2012 to the EU, our largest export market.
  • Strengthen rules-based investment to grow the world’s largest investment relationship.
  • Eliminate all tariffs on trade.
  • Tackle costly “behind the border” non-tariff barriers that impede the flow of goods, including agricultural goods.
  • Obtain improved market access on trade in services.
  • Significantly reduce the cost of differences in regulations and standards by promoting greater compatibility, transparency, and cooperation, while maintaining our high levels of health, safety, and environmental protection.
  • Develop rules, principles, and new modes of cooperation on issues of global concern, including intellectual property and market-based disciplines addressing state-owned enterprises and discriminatory localization barriers to trade.
  • Promote the global competitiveness of small- and mediumsized enterprises.

During the November 2011 Summit meeting, the US and EU decided to explore options for expanding bilateral trade and investment by creating the US-EU High Level Working Group on Jobs and Growth (HLWG). The HLWG was tasked with recommending ways to expand bilateral trade and investment. An interim report was released in June 2012 and later followed by a final report in February 2013. US President Obama notified Congress of the administration’s intent to launch negotiations on T-TIP, which was later approved. In June 2013, all Member States gave the European Commission approval to start negotiations with the US.

Note: Graphs include data from January-December except 2013, which includes January-June 2013. Broiler data includes all broiler meat items under HS0207 with the exception of HS0207140045, as well as HS1601000010, HS1602320090, HS1602320050, HS1602320035. Turkey data includes all turkey meat items under HS0207, as well as HS1601000020, HS1602310020, HS1602310090, HS1602310050, and HS1602310030. Egg and Egg Product data include all shell eggs under HS0407, as well as all egg products under HS0408 and HS3502. Source: Office of the United States Trade Representative / Congressional Research Service: Proposed Transatlantic Trade and Investment Partnership: In Brief, July 13, 2013 / Department of Commerce, US Census Bureau, Foreign Trade Statistics / USDA FAS / United States International Trade Commission (USITC): The Year in Trade 2012, USITC Publication 4416 July 2013 - / News Wires

DOWNLOAD REPORT:- Download this report here

Share This

Related Reports

Reports By Country

Reports By Category

Our Sponsors