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Vancouver BC Litigation Lawyers: Hobbs Giroday

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    • Vision & Values
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    • Testimonials
  • Practice Areas
    • Estate Solutions
      • Probate
      • Validity of Wills
      • Wills, Estates and Succession Act (“WESA”)
      • Trust Litigation
      • Articles
    • Negligence
      • Professional Negligence
      • Medical Malpractice
      • Dental Malpractice
      • Personal Injury
      • Products Liability
      • Articles
    • Business Law
      • Contractual Disputes
      • Enforcement of Judgments
      • Debt Collection
      • Shareholder Disputes
      • Securities Litigation
      • Construction
  • Our Team
    • David Hobbs
    • Ian Giroday
    • Berta Lopera
    • Dylan Segal
    • Austin DeBrincat
    • Danielle Carman
    • Lauryn Wray
  • Resources
    • All Articles
    • FAQ Videos
    • Podcasts
    • Publications
      • Legal Articles
      • Case Comments
      • Reported Cases
      • Business Law Resources
    • Media
    • Speaking Engagements
  • Careers
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EU-US Trade Negotiations

In February, 2013, following a recommendation by a high level working group on growth and jobs from the EU, the EU and US agreed to initiate internal procedures for negotiations on a Transatlantic Trade and Investment Partnership (TTIP). On March 12, 2013, the European Commission requested permission from the Member States to open negotiations with the US for a TTIP and released an impact statement on the future of EU-US trade relations and a study on the potential effect of an EU-US TTIP.

In February, 2013, following a recommendation by a high level working group on growth and jobs from the EU, the EU and US agreed to initiate internal procedures for negotiations on a Transatlantic Trade and Investment Partnership (TTIP). On March 12, 2013, the European Commission requested permission from the Member States to open negotiations with the US for a TTIP and released an impact statement on the future of EU-US trade relations and a study on the potential effect of an EU-US TTIP.

According to the European Commission, the trade picture between the EU and US looks as follows:

Total US investment in the EU is three times higher than in all of Asia;

EU investments in the US are about eight times the amount of EU investment in both India and China;

EU and US investments are the real driver of the transatlantic relationship, contributing to growth and jobs on both sides of the Atlantic, and about one-third of the transatlantic trade consists of intra-company transfers;

The transatlantic relationship defines the shape of the global economy as a whole – the EU or the US is the largest trade and investment partner for all other countries globally; and

The EU and the US economies account for about one-half of the world’s entire GDP and nearly one-third of world trade flows.

Average tariffs are reasonably low (below three  per cent), the key however to unlocking the potential of any TTIP  is tackling non-tariff barriers arising from diverging regulatory systems, mainly consisting of customs procedures and behind border regulatory restrictions, and non-tariff measures such as aspects of security or consumer protection.

Category: Featured, International Legal News, News & Events

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