, 13 tweets, 4 min read Read on Twitter
This summary of US negotiating objectives for EU trade makes for an interesting read - not in terms of those negotiations, which are dead on arrival on this basis, but for the country who's next - the UK... 1/ ustr.gov/sites/default/…
Number one negotiating objective - the US trade balance in goods. That sound you hear is 99% of US economists and supporters of free trade weeping at the economic illiteracy of it... 2/
The US has a small goods trade surplus with the UK so we may be ok. But they're not even trying to pretend this is balanced any more - US expects duty-free on textiles but doesn't expect to give it... 3/
On agriculture this is about as clear a statement in support of hormone-treated beef and everyone's favourite chlorinated chicken that you're going to find. Wonder if Liam Fox has been briefed on this? 4?
This one will be fun, the US want reciprocal de minimis level for imports to be free of duties and domestic taxes. The US de minimis level is $800. I'm sure the Treasury will be delighted with this one. 5/
As I said the US are not even pretending they want to make this fair. Rules of Origin must be biased so more products are made in the US. 6/
This is pretty much requesting the EU dismantle their system for voluntary standards and conformity assessment. Not going to happen of course. But what about when they come knocking on the UK's door? 7/
In services, the EU should remove all restrictions but the US can keep theirs... 8/
Procurement. Open up the EU market. Preserve all US restrictions including state level procurement, specific programmes, and broad exceptions 9/
Thanks @KimDriver11 for pointing out this section on Israel... 10/
Conclusion: US Trade was never generous, but they knew trade was a negotiation for mutual gain. No more, this is simply a 'me, me, me' list, to be ignored by the EU. But what will the UK do when faced with a similar document? /end
Should be more clear really - on the basis of these negotiating objectives there's no way any self-respecting country including the UK could possibly start trade negotiations with the US. Another problem for the UK Government.
Incidentally USTR still has the original TTIP objectives live on their website in case you want to compare and contrast. The TTIP objectives are expressed as reciprocal unlike the new EU objectives... ustr.gov/about-us/polic…
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