The beginning of the end?
Or so it seems.
The bureaucrats are having difficulty ironing out who’ll be wearing the trousers, more specifically, provisions for the protection of EU citizens regarding dangerous products.
There’s been a leak “…the US is looking strongly to change regulation in Europe to lessen the protections on the environment, consumer rights and other positions that the EU affords to its citizens.”
Commentators claim these differences are “irreconcilable“.
A death knell for the TTIP?
Bear in mind that the US already signed the TPP last year, including countries in the Pacific ring, such as Vietnam, Malaysia, Peru, Chile etc.
However, Europe, unlike TPP trading partners, already has it’s own set of laws enshrined both in the common law of the member countries, and the federal authority of the European Union.
It seems the US and the EU are having a battle over whose federalism is the federalism.
Personally, I don’t believe the deal will fall through.
On the back of the previous TPP deal, the US has a pretty strong carrot for negotiations to continue….