14th Round of TTIP Talks Concluded
The 14th round of negotiations of Transatlantic Trade and Investment Partnership (TTIP) between the EU and the US were officially concluded on July 15, 2016. The parties aim to have a consolidated text, the negotiating positions of both parts, by the end of the summer.
TTIP will have up to 30 chapters, most of which are in different stages of consolidation. Further consolidation of texts is expected after this round. Consensus is the closest in the field of tariffs including a reduction of 97 percent of all tariffs, which is beneficial to European shippers. However, progress in the field of services and public procurement remains slow. This gap between the level of ambition on tariffs and procurement remains a serious cause for concern. With regard to regulatory issues almost all components of the regulatory part of TTIP are on the table with textual proposals on which further work is needed on both sides.
Also the Brexit referendum affected the negotiations as the UK was a major free trade defender. Although the Commission had hoped to reach end-game negotiations already with the previous round, in April, the aim remains to close the deal by the end of the year before US president Barack Obama leaves the White House.