Future Prospects of US-EU Trade Relations - The Relaunch of Transatlantic Free Trade
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The Transatlantic Trade and Investment Partnership (TTIP), should have contributed to creating a free trade zone between the EU and US. The aim was to boost the economies of the EU and the US by removing barriers to trade and foreign investment. The negotiations, however, endured many problems, eventually leading to its failure. This thesis will highlight the difficulties of the negotiation process and will provide answers to explain its failure. The main argument here is that the difficulty of the negotiations in combination with the content of some specific clauses, along with the opposition towards the agreement and the lack of political support, were key factors in hampering the success of the TTIP. The thesis will then discuss how the problems the TTIP endured led to the failure of the implementation of the trade deal and analyze the future prospects of transatlantic trade under the Biden administration.
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