Merkel wants TTIP to be finalised by the end of 2015

05/02/2014

During her speech on May 2nd at the U.S. Chamber of Commerce in Washington, D.C., German Chancellor Angela Merkel advocated for an ambitious and comprehensive transatlantic trade and investment partnership (TTIP) by the end of 2015. In addition to the removal of tariff barriers, she called for the elimination of as many non- tariff barriers as possible. Up until now, companies have had to endure high costs for duplicative regulatory requirements, which provide no additional security benefits. For example, German machinery companies must reengineer products specifically for the American market, which constitutes a waste of resources. This is particularly true for small and medium-sized enterprises, who must deal with numerous unnecessary regulations in an effort to sell their products internationally.

The Chancellor underscored the fact that TTIP will not result in the degradation of consumer and environmental protection standards. Instead, the goal must be to learn from each other in order to set global standards for sustainability and consumer protection.