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In: Business and Management

Submitted By iharvard1612
Words 426
Pages 2
- TTIP -

For decades, Germany and the United States of America have been bound together by historical ties of commence, trade, politics and of deep friendship.
Ever since the Marshall Plan was drafted and implemented to rebuild the German and European economies, the US has been continually active in its growth. Prosperity included modernizing industry and removing trade barriers. The latter will be the focus of my essay.
With the upcoming TTIP (Transatlantic Trade & Investment Partnership), which will greatly foster and secure economic success and trade, a new stage of bilateral partnerships could be achieved and as a result strengthen business relations and partnerships between Germany and the USA. Bilateral implications between these existing partners will continue to be of overriding importance for German-American security, freedom and economic success.
The TTIP is a proposed free and open trade agreement aiming at removing many current trade barriers throughout a wide range of economic sectors to make it easier to buy and sell goods and services between the United States and the European Union, including Germany as the flagship of the EU (in an economic and political sense). In addition to cutting tariffs across all sectors, the EU and the US want to address and tackle non-tariff trade barriers of the customs borders, such as differences in technical regulations, standards and approval procedures. These often cost unnecessary time and money for companies who want to sell their products on both markets. This affects mostly small and medium-sized businesses which restrict the majority of them from expanding on the international market and consequentially limits their business opportunities. Simplifying customs clearances would undoubtedly be a favorable situation for both businesses and the tax authorities. Consequentially, this initiative builds on a…...

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