That would be good for Europe's economy and would help create new jobs. Already 30 million jobs in the EU depend on exports and US firms employ 3.5 million people in the EU.
TTIP would bring EU and US standards and regulations more in line with each other without lowering consumer, health or environmental standards. Companies would no longer have to produce different goods for the EU and US markets, helping them lower their costs. Consumers would benefit from lower prices and a wider choice of goods, confident that they meet the highest safety standards.
Here in Europe, cheaper American imports would mean more choice in the shops at lower prices; cheaper goods and services would also bring savings for business. Of course, any US goods sold in the EU would still have to comply with our high standards of environmental, consumer and health protection – just as they do now. An independent study carried out for the European Commission forecast that, when fully operational, TTIP could bring benefits to the EU economy worth an additional 0.5% of GDP. EU exports to the US are mostly high-value products, like cheese, hams, wine, olive oil, spirits, and chocolate.
TTIP would not only boost trade and income in the EU and US but also in the rest of the world. An independent study found TTIP could increase our trading partners' output by almost €100 billion.
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