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TTIP’s next round of negotiation with the US in July

The next round of negotiations of the Transatlantic Trade and Investment Partnership (TTIP) trade deal with the US will begin in Brussels on July 11, despite the turmoil surrounding Brexit. This was declared by Cecilia Malmstrom, trade commissioner of the European Commission. The trade commissioner said that they are committed to the trade agenda and are negotiating a lot of other issues with many countries besides the TTIP. And they will do whatever it needs to make as much progress as possible in the coming months possibly before the end of the Obama administration. This part has been confirmed by member states.

Also sooner or later the EU will have to make decisions about TTIP once the UK and its next prime minister define its trade relationship with the EU and rest of the world. But for now, negotiators will negotiate as a 28-member bloc with the UK, she averred. US and EU negotiators have been negotiating TTIP for more than three years seeking to forge a deal that would eliminate tariffs on imports, streamline regulations, remove burdensome technical barriers and eliminate redundancies in areas such as customs procedures, product safety testing and certification and labeling requirements.

The US and EU have long touted the TTIP as an agreement that can bring regulatory cohesion to a thicket of diverse regulations that often impede trade across the Atlantic and the fashion industry associations of both the US and Europe have pressed TTIP negotiators to streamline, simplify or eliminate duplicative and burdensome labeling and product safety requirements.