TTIP on the Brink of Failure: EU ‘Frustrated’ By US Refusal To Accept Conditions It Insists Europe Must Accept

The Transatlantic Trade and Investment Partnership (TTIP), which has been pushed by the Obama Administration and the European Union’s ruling bureaucratic dictatorship, looks increasingly close to being abandoned as public opposition to it mounts in both Europe and the USA.. The EU negotiators are frustrated by American intransigence in refusing to grant the EU access to US markets, while demanding the removal of all obstacles of all obstacles to American goods being dumped in European markets. It is now becoming apparent that the potential deal should always have been a non starter, as the business culture of European countries and the US have little in common, German business newspaper Deutsche Wirtschafts Nachrichten (DWN) wrote.

Referring to the website EUobserver, the newspaper noted that EU negotiators have become frustrated about the deal and don’t believe in the success of the TTIP anymore.

The main problem is fundamentally different visions of the US and the EU about the nature of the agreement.

“The US is pressuring the EU to roll back environmental and health standards as part of a free trade deal,” EU observer wrote. “The US also wants to keep the current arbitration system that allows corporations to sue governments for perceived loss of profits.”

According to DWN, the US is playing hard, making “unacceptable” demands and trying to bully EU negotiators. US attempts to talk up the non existent threat to the EU from Russia should the deal fail have angers the EU side and contributed to growing “frustration among Member States”. Russia will be very happy to see the deal fail as that would open the way for closer economic ties between the EU and the Russian Federation.

Several clauses in TTIP have sparked controversy as critics fear they will allow global orporations to overturn national laws (as has happened in Canada which signed a similar  trade treaty with the US some years ago.) These fears are exacerbated by secrecy surrounding the negotiations and the power they could give to international corporations at the expense of small and medium-sized businesses.

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