Obama: US, EU TTIP Differences 'Narrowing'
Differences between the U.S. and EU are narrowing in Transatlantic and Trade and Investment Partnership negotiations, President Barack Obama said on April 24 during a joint press conference with German Chancellor Angela Merkel at the Hannover Messe trade show, in Hannover, Germany (here). Defending trade deals’ dispute settlement mechanisms, Obama rejected the notion that the agreements give corporations unfair opportunities to sue countries to prevent enforcement of health and environmental laws and financial regulations. “None of these things have happened with the many trade agreements that currently exist, and that Germany and the United States and the EU and others are already party to,” Obama said. “So I think it’ important for us to look at the facts and not a bunch of hypothetical pronouncements.” U.S. and EU negotiators are meeting in New York this week for the 13th round of TTIP talks.
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While particular companies hurt by foreign competition feel its effects "acutely," free trade has made the U.S. economy stronger, and the U.S. should work to ensure its businesses can compete in today's global market, 95 percent of which exists beyond U.S. shores, Obama said. Many people are "unsettled" by globalization, a sentiment largely driven by business closures, but export-related jobs actually catalyze more growth and higher earnings, he said. Benefits of trade deals "oftentimes are diffuse, whereas a particular plant or business that feels it’s been hurt by outside competition feels it very acutely," Obama said.
Obama said he remains "confident" that TTIP negotiations could conclude by the end of this year. "Keep in mind, there are people who didn’t think with Trans-Pacific Partnership that we would ever be able to give me the authority to move it forward, and we got it done," he said. "People didn’t think we were going to be able to negotiate with 11 countries in the Asia Pacific, and have a deal that does, in fact, strengthen labor, and does strengthen environmental provisions, and yet, we got it done. And I think the same is going to be true" with TTIP.
Obama expects Congressional politics to "settle down a little bit" after primary season ends, and believes his administration will "gain a position" at that point to move forward with presenting Congress TPP implementation legislation, he said. "I know that we have had a majority of members of the past who were in favor of this deal," Obama said. "Otherwise, we wouldn’t have gotten the authority for me to go ahead and fast-track this agreement. But I think we all know that elections can sometimes make things a little more challenging, and people take positions, in part, to protect themselves from attacks during the course of election season."