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Saturday, September 03, 2016

Free Trade Wins: The TTIP Is in Trouble

The problem with trade deals

You have probably heard of the controversial TPP, the Trans-Pacific Partnership, the deal that Hillary Clinton can’t make up her mind on.

However, you probably have not heard of the Transatlantic Trade and Investment Partnership (TTIP). It is referred to as a free trade pact between the United States and the European Union. I only recently read about it in European media sources. Negotiations have been going on for years and it only recently surfaced because top European officials have declared it a de facto dead deal.
The Problem with Trade Deals

Such trade deals are inherently suspicious by nature. They invariably benefit large corporations to the detriment of the average citizen. As political scientist Kerry Chase has concluded “When groups that rely on scale economies and production sharing networks” i.e., big multinational corporations, “have political clout trading blocs are likely to form.”

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