The first round of Transatlantic Trade and Investment Partnership negotiations are underway between the U.S. and European Union. On Monday – negotiators focused on the importance of the talks and started to lay out plans for the round. Issues from investment to government procurement to textiles to energy were discussed by the negotiating teams.
The chief negotiators from the two sides also met. U.S. Trade Representative Michael Froman said there is an opportunity in TTIP to accomplish something very significant for the nation’s economies, their relationship and the global trading system as a whole. He also believes the negotiations represent a chance to spur growth and generate large job growth supported by transatlantic trade and investment.
Froman admitted there will be challenges – but said there is strong political will at the highest levels on both sides of the Atlantic to stay focused and get this done on one tank of gas. Froman expressed confidence that goal can be achieved – but also said it’s important to resist the temptation to downsize ambitions or avoid tough issues just for the sake of getting a deal.