Enhancing the Transatlantic Trade and Investment Relationship
Joe Biden’s election as President of the United States presents an opportunity to renew the transatlantic relationship, and particularly the transatlantic economic relationship, after four rocky years.
The U.S. and Europe cannot of course simply go back and pick up the Transatlantic Trade and Investment Partnership (TTIP) negotiations where they left off when Mr. Biden was Vice President, on January 20, 2017. Those negotiations had run into obstacles of their own, some self-inflicted (the miscommunication on tariff offers in the opening months had lasting consequences), some legitimate (concerns over regulatory protections) and some illegitimately fanned (settling investment disputes, ISDS). TTIP might have been completed under a Hillary Clinton presidency, but getting EU member state approval and ratification would have been problematic, as the tortured path of the EU-Canada trade agreement CETA shows.