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Is this like how environmental practices, worker rights, and carbon taxes should be part of every trading agreement? And don't forget a global income tax, that
by rsj_hn 5y ago
Is this like how environmental practices, worker rights, and carbon taxes should be part of every trading agreement? And don't forget a global income tax, that should be part of the agreement, too, right?
Problem being, the EU is a net exporter while the US is the world's net importer. So the US calls the shots on the trade agreement front, and everyone lines up, hat in hand, to try to sell their surplus production to the only nation willing and able to absorb it -- the U.S.
Once the EU starts running large persistent trade deficits then it can start insisting on things in trade agreements and other nations will have to give up those juicy surpluses or agree to the EU's demands. But that's not the state of the world at the moment.
- CaptainZapp 5y ago> So the US calls the shots on the trade agreement front, and everyone lines up, hat in hand, to try to sell their surplus production to the only nation willing and able to absorb it -- the U.S. Sorry, but you're wrong[1]! At least when you're talking about relations with the EU. [1] https://en.wikipedia.org/wiki/Transatlantic_Trade_and_Investment_Partnership https://en.wikipedia.org/wiki/Transatlantic_Trade_and_Invest...
- rsj_hn 5y agoThis is a non-sequitur. An IP agreement has nothing to do with trade deficits and isn't even really a trade deal so much as an agreement to honor intellectual property across borders with the word "trade" in the title.
- CaptainZapp 5y agoThe first sentence of the linked article says : "The Transatlantic Trade and Investment Partnership (TTIP) was a proposed trade agreement between the European Union and the United States, with the aim of promoting trade and multilateral economic growth." (emphasis mine) Not sure from were you get the idea that TTIP is an IP agreement.