The Transatlantic Trade Partnership and US Agricultural Policy

The Transatlantic Trade Partnership and US Agricultural Policy

The proposed trade agreement being discussed this week by President Obama and Prime Minister David Cameron is of staggering proportions and covers virtually every industrial sector. The Transatlantic Trade and Investment Partnership (or TTIP) is estimated to be worth $97 billion for the U.S. while the European Commission claims that it will raise the EU’s economic output by 0.5%.

The impact of trade negotiations with regard to the agricultural sector will be especially interesting to watch. There is a great ideological rift between the US and the European Union with regard to agricultural technology such as genetically modified organisms (or GMOs). GMOs play a major role in American agriculture and, more importantly, American agribusinesses such as Pioneer and Monsanto are the most globally significant players in this field.

The EU, by means of its incredible economic clout, might just have what it takes to prompt a re-examination of US agricultural policy at the highest levels in Washington.

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(Wikimedia Commons image courtesy of Ashlyak)

About the Author:

Sebastian Andrei is NABATAEANS’ editor for EU - Middle East Trade and Political Relations. He completed his undergraduate studies at the University of Vienna, where he majored in journalism with minors in political science as well as business and economics. Sebastian is responsible for reporting on the European Union’s external trade relations. He also writes about economic development and investment opportunities in Europe as well as about policy changes which affect the EU common market.

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