《《Proposed Transatlantic Trade and Investment》.pdf

Proposed Transatlantic Trade and Investment Partnership (TTIP): In Brief Shayerah Ilias Akhtar Specialist in International Trade and Finance Vivian C. Jones Specialist in International Trade and Finance July 23, 2013 Congressional Research Service 7-5700 R43158 CRS Report for Congress Prepared for Members and Committees of Congress Proposed Transatlantic Trade and Investment Partnership (TTIP): In-Brief Summary Congress has the constitutional authority to “regulate commerce with foreign nations.” Thus, it has an important legislative, oversight, and advisory role when trade agreements are being negotiated. The Transatlantic Trade and Investment Partnership (TTIP) is a proposed free trade agreement (FTA) being negotiated between the United States and the European Union (EU). Both sides envision the TTIP as a “comprehensive” and “high-standard” FTA. They seek, among other things, to increase market access through the elimination of barriers to trade and investment in goods, services, and agriculture, and enhance regulatory cooperation. The two sides also seek to use eventual TTIP commitments on the global scene: to advance trade liberalization; set rules and standards; and address challenges associated with the rising economic powers (REPs). The United States and the European Union held the first round of TTIP negotiations the week of July 8, 2013 in Washington, DC. The next round is scheduled for the week of October 7, 2013 in Brussels. Congressional interest. Congress has a direct interest in the TTIP, both through influencing the Administration’s positions on issues in the negotiations and cons