Committee Witnesses Press Need to Eliminate Trade Barriers in TTIP
The negotiations over Transatlantic Trade and Investment Partnership (TTIP) offer a chance to address a wide array regulatory barriers between the involved countries, said witnesses during a July 24 House Energy and Commerce Committee’s Subcommittee on Commerce, Manufacturing and Trade hearing on TTIP. The testimonies focused on the importance of reducing tariff and non-tariff barriers within the U.S-EU trade deal currently being negotiated. “The negotiation of TTIP presents an opportunity to implement a regime that effectively breaks down regulatory barriers in the auto sector, recognizes regional integration that benefits both the U.S. and the E.U., reduces costs and increases commercial predictability, while respecting U.S. and E.U. sovereignty and without sacrificing vehicle safety or environmental performance,” said Matt Blunt, Former Missouri Governor and President of the American Automotive Policy Council, according to a subcommittee press release.
Sign up for a free preview to unlock the rest of this article
Timely, relevant coverage of court proceedings and agency rulings involving tariffs, classification, valuation, origin and antidumping and countervailing duties. Each day, Trade Law Daily subscribers receive a daily headline email, in-depth PDF edition and access to all relevant documents via our trade law source document library and website.
The other testimonies emphasized intellectual property rights preservation and the value in regulatory convergence, among other things. The first of TTIP negotiations took place in Washington D.C. during the week of July 8, while the second round is slated for the week of October 7 in Brussels. Subcommittee Chairman Lee Terry, R-Neb., praised prospective benefits of the pact in an opening statement (see 13072422).