25 July 2014


Even the European Commission admits that TAFTA/TTIP is not, primarily, a trade agreeement, because the trade barriers between the EU and the US are already so low that removing them will add little to the EU economy. According to a study [.pdf] put together for the European Commission, the uplift in 2027 would be only 24 billion euros on a GDP that was already 12,900 billion euros in 2012; that compares with the most favourable outcome touted by the report, which is 119 billion euros GDP uplift in 2027. However, that is predicated on massive deregulation - although the European Commission prefers to use the euphemism of "removing non-tariff barriers."

On Open Enterprise blog.

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