Question

1.What are the benefits of the proposed TTIP?

2.Can you think of any drawbacks associated with the TTIP?

3.Two decades ago when the United States entered into the North Amerrican free trade Agreement with Canada and Maxico, there was significant opposition from organized labor and some politicians.There does not seem to be the same level of opposittion to the TTIP Why do you think this is so?

4.The trans Pacific Partnership(TTP) has met with significant political resistance in the United State (see the opening case). while the TTIP has not (at least as yet). Why do you think this is the case?

Refer http://www.chegg.com/homework-help/creating-world-s-biggest-free-trade-zone-benefits-proposed-t-chapter-6-problem-1cdq-solution-9781259578113-exc

Answer 1

1. Both people as well as business can be benefited from TTIP, as there will be economic growth which means improved purchasing power of the people. The increased trade between the countries will led to more jobs due to more investment. There will be availability of cheaper goods as well as saving of companies in billions due to elimination of duties and trade barriers.
2. The drawbacks associated with TTIP are as under:

Some sectors will have lesser jobs due to increased international competition.

It can lead to lowering of standards in case of food safety, labour and environment to name a few.

Companies will have too much authority/control due to investment protection.