Subcommittee Chair Terry Lauds TTIP Prospects
Chairman for the Commerce, Manufacturing and Trade Subcommittee of the House Energy and Commerce Committee, Lee Terry, R-Neb., delivered on July 24 opening remarks at a subcommittee hearing on the Transatlantic Trade and Investment Partnership (TTIP). The partnership is a…
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prospective economic pact between the U.S. and EU that would cover half of global GDP and 30 percent of world trade. Negotiations remain underway. “TTIP represents a historic opportunity for both sides to create greater openness, transparency and convergence in regulatory approaches and standards while reducing unnecessarily redundant requirements,” said Chairman Lee, who praised historically low tariff rates shared between the U.S. and EU.