Two Leaks Reveal How TAFTA/TTIP's Regulatory Co-operation Body Will Undermine Sovereignty And Democracy | WHAT REALLY HAPPENED

Two Leaks Reveal How TAFTA/TTIP's Regulatory Co-operation Body Will Undermine Sovereignty And Democracy

But it's hard to see how those non-tariff barriers can be harmonized without a race to the bottom in terms of regulations, since no one is calling for a race to the top. Even "mutual recognition," which would allow both standards to be used, would inevitably see the lower standard becoming the norm because it would be cheaper to implement, and thus offer competitive advantages.

However, a leak back in December 2013 gave a clue about how it might be possible for the US and EU governments to promise that the TAFTA/TTIP agreement would not lower standards, and yet provide a way to dismantle those non-tariff barriers (pdf). This would be achieved after TTIP was ratified, through the creation of a new body called the Regulatory Council, which would play a key role in how future regulations were made. Effectively, it would provide early access to all new regulations proposed by the US and EU, allowing corporations to voice their objections to any measures that they felt would impede transatlantic trade. This regulatory ratchet would push standards downwards and reduce costs for business, but only gradually, and after TTIP had come into force -- at which point, nothing could be done about it.

Webmaster's Commentary: 

In general, all that is great for major corporations turns out to be quite lousy for We the People; this TTIP agreement certainly demonstrates that.

Comments

SHARE THIS ARTICLE WITH YOUR SOCIAL MEDIA