Monday, April 25, 2016 marks the beginning of the next round of talks on the proposed Transatlantic Trade and Investment Partnership (TTIP). It comes the day after US President Barack Obama spoke in Germany at the Hannover Messe, the world’s largest industrial technology trade show. Obama’s visit underscores the strong (and ever-growing) trade relationship between Germany and the US. Germany in particular stands to benefit from a robust TTIP. Its economy is more export-driven than other EU countries, alone accounting for nearly one-quarter of all EU trade with the US.
Meanwhile overall, TTIP presents a strong opportunity for the EU and US to forge even closer ties, setting the standard for transnational cooperation during a time when populism across the globe is challenging transnational relationships.
However, talks over the TTIP agreement between the EU and US lack strong support within Europe’s largest economy. President Obama’s latest trip to Germany comes as opposition to the deal within the EU continues to dominate the conversation and news cycle on TTIP. As an example, in late March, 54 percent of media coverage featured solely negative commentary on TTIP. Comparatively, just 12 percent of media coverage only featured supporting commentary.
Yet, analysis by the Centre for Economic Policy Research, a leading independent pan-European economic research organization, found the deal would increase the size of the EU economy by 0.5 percent of GDP and the US economy by 0.4 percent of GDP. This report examines the benefits of TTIP to Europe and, in particular, Germany.
Key findings of the report are: