What are the benefits of the transatlantic free trade agreement?
This is set to be “the biggest trade deal in history”, enthuse top managers in Germany and EU bureaucrats in Brussels, as the global battle of the future will be fought in the area of trade. Washington is also certain that the planned free trade zone between the EU and the USA will bring more jobs, growth and prosperity for 800 million people. In Berlin, Economics Minister Gabriel is cautious, but also believes that the opportunity for the gigantic trade agreement should not be missed. However, the further negotiations progress, the more alarmed and unsettled many observers become. It is not just that the trade agreement between the economic giants USA and EU is being negotiated behind closed doors. The influence of business and large corporations in particular is also growing immensely as a result of the huge deal. In fact, the Transatlantic Trade and Investment Partnership – TTIP for short – is only marginally concerned with what is traditionally understood as free trade: the abolition of tariffs, which are already low in transatlantic trade. The main focus is on regulations that affect all consumers: how cars will be equipped in the future, for example, but also how food will be produced.