International big business aims to smash barriers to higher profits. John Sinha explains what is actually at stake if TTIP passes.
The Transatlantic Trade and Investment Partnership (TTIP) is a bilateral trade deal between the EU and the US. Its claimed purpose is to boost trade by removing non-tariff “barriers”. These so-called barriers are the regulations which protect workers’ rights, health and safety, and the environment.
September’s Trades Union Congress committed itself to “outright opposition” to the TTIP trade deal, now being drawn up in secret between the European Union and US. And for good reason.
What is TTIP?
The Transatlantic Trade and Investment Partnership, which could unleash devastating attacks on jobs, public services and the environment. Its main focus is not to reduce trade tariffs between the US and EU, which are already minimal. Instead the danger lies in its attempts to reduce “non-tariff barriers to trade”.
If agreed, it would be the biggest trade and investment deal agreed outside the World Trade Organisation (WTO).
