Transcript Who We Are
Who We Are “Transatlantic Economic Relations and the TTIP” Tyson Barker Director, Transatlantic Relations Bertelsmann Foundation North America 4th Turkey-Europe Forum TASAM Who We Are Who We Are Established in 2008 Offices in Brussels, Barcelona, and Guterslöh, Germany Major projects: • Transatlantic Relations Project • Global Futures Project • Global Economic Dynamics • INCRA Who We Are US-EU Economic Relationship 60% of total FDI globally 40% of global GDP (in purchasing power parity) 33% of global trade in goods and services $600 billion in total trade flows annually (larger than the entire GDP of Argentina) Nearly $4 trillion in total investment stocks (larger than the entire GDP of Germany) 13 million jobs in Europe and the United States connected to transatlantic trade and investment Who We Are The Transatlantic Trade and Investment Partnership (TTIP): An “Economic NATO” Goals of free trade negotiations include: Open US and EU markets Strengthen rules-based investment Eliminate all tariffs on trade Tackle non-tariff barriers Who We Are TTIP: What’s at Stake? Moving beyond the financial crisis Setting global norms and standards Addressing global challengers Assumptions Uses the CEPR “ambitious scenario” 100% reduction in tariffs 25% reduction in costs associated with non-tariff barriers to trade 50% reduction in procurement barriers Key Findings All states gain jobs and increase exports On average annual exports to Europe jump 33% per state One new TTIP-related job generated for every 160 in existence TTIP-related job growth tends to be highest in the services sector Estimated increase in individual state exports to the EU post implementation of an ambitious TTIP (%) Goods trade (in terms of growth), particularly advanced manufacturing, stands to benefit more from an ambitious TTIP. The greatest gains in exports occur in states that are particularly well integrated into the supply chains of the transatlantic motor vehicles market. Motor vehicles is the top sector for export growth in 19 states Michigan 95% Alabama 138% South Carolina 187% Estimated increase in TTIP-reliant jobs by state (Number) Top 5 states by estimated number of jobs attributable to TTIP California 75,340 Texas 67,780 New York 50,520 Florida 47,540 Pennsylvania 33,960 Estimated proportion of TTIP-reliant jobs in the state labor force (%) Top States with TTIP attributable jobs as a proportion of overall state job market (%) Nevada 0.71 Hawaii 0.68 Florida 0.67 Washington 0.67 West Virginia 0.67 Montana 0.67 Maine 0.67 Who We Are Bertelsmann Foundation-Atlantic Council Stakeholder Survey Do you think the US and EU will be able to come to an agreement? Which of the following scenarios do you believe is most likely? Who We Are TTIP Stakeholder Survey: Potential Sticking Points