Last weekend, US president Barack Obama announced that coming changes in political spheres of US and Europe can slow down negotiations on Transatlantic Trade and Investment Partnership (TTIP).
The announcement was made at the opening of the Hannover Industrial Fair. Obama underlined that negotiations were held for several years during which the significant progress was reached. He also added that it was important to finish work on this agreement this year, otherwise, the coming events in US and EU politics could postpone the agreement conclusion.
Obama noted that this agreement would let US and EU take custom tariffs down, simplify the procedure, and bring to a common standard trade and commerce regulations.
The deal will make the trading process easier for everybody including business owners. When TTIP is officially ratified, the tariffs will be decreased and trade barriers eliminated between EU and US. At the same time, the opponents are sure that this agreement will work in favor of transnational companies which want to decrease regulatory control in Europe.
