World Trade Institute in cooperation with AmCham EU published an assessment of economic impacts of the Transatlantic Trade and Investment Partnership on EU member states entitled TTIP and the EU Member States. It includes country-specific data and recommendations for national governments and the European Commission.
Countries including Lithuania, Austria, Belgium and Ireland gain most, while countries including Czech Republic, Hungary, and Estonia gain less. Malta could experience a marginal contraction in GDP, the study says. Wages for high-skilled
workers should rise between 0.03 percent (Czech Republic) and 1.4 percent (Ireland). Low-skilled wages in Romania, Czech Republic and Estonia are expected to decrease marginally. Estimated export increase from TTIP is 23% for the Czech Republic (116% for Slovakia, 64% for Austria, 5% for Cyprus), the study says.
"The Czech Republic has a strong economic relationship with the US, and TTIP would contribute to additional income, higher wages for high-skilled workers and lower prices for consumers. GDP is expected to increase permanently by 0.1 percent, exports to the US are expected to increase by 23 percent and consumer prices will go down marginally by 0.1 percent. Investments are expected to decline.
For the Czech Republic, by reducing tariff and non-tariff measures in TTIP, without lowering standards:
- The machinery, personal services, water and air transport and manufactures sectors are expected to grow most, but electrical machinery may decline;
- TTIP could facilitate a significant increase in production of machinery products by firms in the Czech Republic (+2.1 percent) and exports in motor vehicles (+€241 m);
- Sector specific price reductions are expected to come from motor vehicles (-0.9 percent), transport equipment (-0.6 percent), and chemicals (-0.4 percent)."
More details are available here.
Also, read an interview with EU Ambassador to the US, David O'Sullivan on TTIP and the status of EU-US negotiations.
Angela Merkel spoke out for TTIP (content in German).
Read also the article Setting Things Straight: NAFTA Has Not Been a Disaster for the United States
30th November 2020
30th November 2020