The Guardian called TTIP “the most controversial trade deal ever negotiated by the EU.” [18] TTIP negotiations are criticised and rejected by some trade unions, charities, NGOs and environmentalists, particularly in Europe. [14] [15] The Independent summarizes the negative effects of TTIP as “reducing regulatory barriers to large companies, food security, environmental legislation, banking regulation and sovereigns of different nations”[16] or more critical than “the attack on European and American companies by transnational groups”. [16] German economist Max Otte stated that proposed arbitration (ISDR) and the protection of foreign investment would mean a “total deviation from policy”[19] and that free trade agreements on the labour economy would generally apply lower standards and that the TTIP would put European workers in direct competition with the Americans (and, in fact, under the North American free trade agreement with the Mexicans). which would have an impact on European social models. [19] Otte also concluded: “We really don`t want the social system of these countries [U.S. and Mexico] here [in Europe].” [19] Despite a study by the Ifo Economic Research Institute in Munich (at the request of the Federal Ministry of Economy), according to which TTIP could create up to 400,000 jobs in the EU,[81] Stefan Korzell, a member of the Federal Steering Committee of the German Confederation of Trade Unions (DGB), said that “TTIP can create jobs and how much TTIP can create.” Previous studies, ranging from studies conducted by the European Commission to the expertise of the Ifo Institute, oscillate between optimism and very low expectations… Consideration of the negative consequences of trade agreements when environmental or labour standards are ignored is often overlooked. In August 2015, the United States ratified two of the ILO`s eight basic labour standards (bans on child labour and slavery). [82] The Biden campaign did not respond to a request for advice on possible trade objectives with the EU. But Biden`s “Made in America” plan promises to create 5 million jobs in domestic production through tax credits and tighter restrictions on what is considered an American product.
