Economy

Dutch voters now demanding referendum on TTIP

EXCLUSIVE / Dutch voters want a referendum on the TransAtlantic Trade and Investment Partnership (TTIP), throwing into doubt the future of the US-EU free trade deal, nine days after the country’s ‘no’ vote in a plebiscite on an EU-Ukraine association agreement.

Dutch anti-TTIP protest in Amsterdam, June 2015. [Branko Collin/Flickr]

James Crisp Euractiv 15-04-2016 07:14 5 min. read Content type: Euractiv is part of the Trust Project
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Background

The European Commission has estimated that an ‘ambitious’ TTIP deal would increase the size of the EU economy by around €120 billion (or 0.5% of GDP) and the US by €95 billion (or 0.4% of GDP). Economically, TTIP can benefit consumers from creating cheaper products, according to the Commission.

A study by the Centre for Economic Policy Research estimates that in total the average European household of four will see its disposable income increase by an estimated €500 per year, as a result of the combined effect of wage increases and price reductions.

This would be a permanent increase in the amount of wealth that the European and American economies can produce every year.

But the deal has been beset by controversies centring on accusations that the talks are too secret, will drive down environmental standards or leave governments at the mercy of lawsuits brought by rich multinational companies.

During his campaign for re-election in 2015, British Prime Minister David Cameron promised to renegotiate the UK's relations with the European Union and organise a referendum to decide whether or not Britain should remain in the 28-member bloc.

The British PM said he will campaign for Britain to remain in the EU after a two-day summit in Brussels where he obtained concessions from the 27 other EU leaders to give Britain “special status” in the EU.

TTIP talks need swift progress to avoid Trump threat

Transatlantic Trade and Investment Partnership (TTIP) negotiators must soon strike deals on market access for services and certification of regulatory standards, sources have said, if the EU-US trade deal is to be struck before the end of the Obama Administration.

Timeline

  • 25 April: 13th round of TTIP negotiations
  • 7 June: Final presidential primaries
  • 23 June: Brexit referendum
  • End-2016: Target date to sign TTIP
  • January 2017: Obama steps down

Updated: 29-09-2024

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