Transatlantic Trade Deal Could Boost Economies, Reshape Global Commerce
The article discusses the Transatlantic Trade and Investment Partnership (TTIP) between the US and EU, which aims to boost trade and economic ties. The focus is not only on reducing tariffs but also on dealing with non-tariff measures, service regulations, and other trade-related issues. By analyzing these factors using a model, the researchers predict a significant increase in trade between the two regions, with a 50% overall rise and even a 150% surge in agriculture products' trade. The proposed agreement could lead to substantial GDP gains in the long run: a yearly increase of approximately 64bn for the US.