More than 150 negotiators from different countries such as EU and US had meeting to discuss the details of free trade agreement and Investment Partnership.
Billed as a trade accord that is transformational, the TTIP would go beyond tariffs to cut on non-tariff barriers, expand trade in services, streamline regulatory standards, and incorporate commerce components to satisfy a quickly evolving global economy.
American and European leaders had pushed for the TTIP in the expectation that it'd provide a much-needed boost to buckling under rising competition from China, and fighting American and European markets, which were mired in recession and high unemployment since 2008. But the negotiators, faced a sobering reality, "the reason we've not had a trade agreement like this between ourselves in the past several decades is not because nobody thought of it," said Michael Froman, United States Trade Representative. "It is because there have always been issues that have tripped us up."
Under public inspection that is rising and intense political pressure, will the negotiating teams have the ability to reduce trade barriers between both economic giants? This case explores how in the lack of multilateral trade liberalization, regional trade agreements are becoming increasingly popular. With an in depth accounts of technical and the political challenges in negotiating a mega regional accord, the case questions if political will or the requirement for economic growth can defeat longtime barriers to deeper trade integration.
PUBLICATION DATE: August 20, 2015 PRODUCT #: KS1142-PDF-ENG
This is just an excerpt. This case is about GLOBAL BUSINESS
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