I suspect that many readers will find the acronyms in the title of this post puzzling, so let me explain. This is a post about trade policy, and especially about the dependability of the US as a negotiating partner in its negotiations with the EU on the free trade agreement known as TTIP – the Transatlantic Trade and Investment Partnership – billed on the DG Trade website as ‘the biggest trade deal in the world’ and due to be completed by December this year.
The TTIP talks also encompass food and agricultural products. The goal is to eliminate all tariffs on both agricultural and non-agricultural trade between the two counties. Europe is looking for greater market access for its high-end food exports such as wines, cheese, olive oil, high quality beef and pork-meat. Some European food products, such as apples and various cheeses, are currently banned from the US market; others are subject to high US tariffs – meat 30%, drinks 22-23%, and dairy products up to 139%.… Read the rest
Europe's common agricultural policy is broken – let's fix it!