Europe’s Trade Policy: Can a Phoenix Rise From the Ashes?

Abstract:

TTIP is dead but CETA can still be saved.

European trade policy is in a shambles. There is little hope to rescue the Transatlantic Trade and Investment Partnership (TTIP) with the United States, an arrangement once envisioned to be a ground-breaking agreement between the world’s two largest economic blocs. Public protests against TTIP also seem close to bringing down the Comprehensive Economic and Trade Agreement (CETA) and it is uncertain whether even this deal, which was not thought to be controversial, will be ratified.

But the damage goes beyond single trade agreements. The past year and a half have damaged the European Commission’s influence over trade issues. While the European Commission‘s legal powers to negotiate comprehensive international trade agreements were increased as recently as 2009 with the Lisbon Treaty, Europe’s executive body seems now to enjoy less clout than ever before to push these agreements through.

• Primary Source

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