By Steven Macmillan and cross-posted from New Eastern Outlook
The tyrannical corporate trade deal, the Transatlantic Trade and Investment Partnership (TTIP), is increasingly facing a challenges that threaten to derail the entire agreement. With negotiations officially beginning in 2013, US trade officials were arrogantly forecasting that a deal would have been reached by the end of 2014. Today in 2016, 14 rounds of intense negotiations later, there is a serious potential that a deal will not be reached by the end of this year, if at all.
There are, and will continue to be, many implications of the momentous Brexit vote; but one implication that has got less media coverage than it deserves is how it further impedes and complicates TTIP negotiations. In an article for one of the most influential organisations in the UK, the Royal Institute for International Affairs (or Chatham House), Geo-Economics Fellow, Marianne Schneider-Petsinger, admits that the Brexit vote is a “serious blow” to the chances of TTIP being concluded in the immediate future. Petsinger argues that as Britain was one of greatest advocates for TTIP within the EU, the US has lost an important partner who shares Washington’s fervour for unfettered corporate control. Petsinger adds that even though a British exit from the EU will severely delay negotiations, TTIP will still survive the vote.
With each passing week however, the fate of the entire agreement looks in jeopardy. The proposed deal has increasingly faced resistance from both government officials and the public. Many French officials have been amongst the most critical of the agreement. At the end of June, the French Prime Minister, Manuel Valls, statedthat TTIP was against “EU interests,” adding that the deal is “not on track.” The French Junior Minister for Trade and Commerce, Matthias Fekl, also stated at the start of July that it was “impossible” for negotiations to be concluded by the end of 2016…