AmCham Germany Worried About TTIP fate
The American Chamber of Commerce in Germany (AmCham) wants European interests to push the US government to ratify the proposed Transatlantic Trade and Investment Pact (TTIP) between the EU and the US. The organization’s president. Bernd Mattes, told the German Sunday newspaper Frankfurter Allgemeine Sonntaszeitung (FAS), “if we want this agreement to succeed, we will have to make our influence felt in Washington.” This meant, he explained, that the German government and the EU leadership as well as businesses themselves will have to become active.
After a recent visit to the US capital, Mattes said he had gained the impression that “protectionism is on the rise,” pointing to efforts by the Republican Party in Congress – driven by President Donald Trump – to impose import duties of around 20% on all imports. If the duties are passed, products made in Germany and sold in the US would see price increases or margins of German and European companies competing directly with American manufacturers would be eroded.
At the same time, the AmCham president said, European countries could also levy duties on American-made products. “Protectionist measures such as punitive duties, import taxes or withdrawal from international trade agreements have no place in a globalized world,” he asserted.
But Mattes also suggested that even an “ambitious” trade agreement between the EU and the US “should not necessarily have to regulate everything in detail,” and that the scope of “especially controversial points” could be limited. He did not specify which points he meant. On the European side, the Investor-State Dispute Settlement (ISDS), a private court system to resolve disputes between investors and countries, has been especially controversial.
In AmCham’s view, there is only a “small window of opportunity” still open for continuing the talks. However, Mattes told FAS it is not even clear whether the new US administration will appoint a negotiator.
