Not so fast: Conflicting deadlines for the TPP and US-EU FTA

Article Highlights

  • After a fallow first four years, President Obama has suddenly embraced an ambitious — but highly problematic — trade agenda for his second term.

    Tweet This

  • The administration is misguided in bowing to the EU’s frantic plea for a crash, two-year timetable for FTA negotiations.

    Tweet This

  • Such a course will fail — and of much greater significance, it may well imperil a successful conclusion of the strategically and economically vital TPP negotiations.

    Tweet This

  • Trans-Pacific Partnership negotiations have emerged as the central symbol of the U.S. diplomatic and economic ‘pivot’ to Asia.

    Tweet This

President Obama has suddenly embraced a highly problematic trade agenda for his second term.

After a fallow first four years, President Obama has suddenly embraced an ambitious — but highly problematic — trade agenda for his second term. First, he has adopted the goal of completing the hugely complex and politically difficult 11-member Trans-Pacific Partnership agreement (TPP) in the next 12 months. Second, in his State of the Union address the president gave the go-ahead for negotiating a comprehensive free trade agreement (FTA) with the European Union (EU) by the end of 2014.

The administration is misguided in bowing to the EU’s frantic plea for a crash, two-year timetable for FTA negotiations. Such a course will fail — and of much greater significance, it may well imperil a successful conclusion of the strategically and economically vital TPP negotiations.

Challenges to the TPP

The TPP negotiations have emerged as the central symbol of the U.S. diplomatic and economic “pivot” to Asia. Over the past three years, in ever more expansive language, President Obama and former secretary of state Hillary Clinton underlined the strategic importance of Asia. The president averred, “In the Asia Pacific in the twenty-first century the United States of America is all in.” National security adviser Michael Froman explicitly tied the TPP to U.S. economic and security goals: “This really embeds us in the fastest-growing region of the world, and gives us a leadership role in shaping the rules of the game for that region.”

To read the full text of this article, please visit The American website.

Claude Barfield is a resident scholar at the American Enterprise Institute.

 

Also Visit
AEIdeas Blog The American Magazine
About the Author

 

Claude
Barfield

What's new on AEI

AEI Election Watch 2014: What will happen and why it matters
image A nation divided by marriage
image Teaching reform
image Socialist party pushing $20 minimum wage defends $13-an-hour job listing
AEI on Facebook
Events Calendar
  • 27
    MON
  • 28
    TUE
  • 29
    WED
  • 30
    THU
  • 31
    FRI
Monday, October 27, 2014 | 10:00 a.m. – 11:30 a.m.
State income taxes and the Supreme Court: Maryland Comptroller v. Wynne

Please join AEI for a panel discussion exploring these and other questions about this crucial case.

Tuesday, October 28, 2014 | 9:30 a.m. – 12:15 p.m.
For richer, for poorer: How family structures economic success in America

Join Lerman, Wilcox, and a group of distinguished scholars and commentators for the release of Lerman and Wilcox’s report, which examines the relationships among and policy implications of marriage, family structure, and economic success in America.

Tuesday, October 28, 2014 | 5:30 p.m. – 7:00 p.m.
The 7 deadly virtues: 18 conservative writers on why the virtuous life is funny as hell

Please join AEI for a book forum moderated by Last and featuring five of these leading conservative voices. By the time the forum is over, attendees may be on their way to discovering an entirely different — and better — moral universe.

Thursday, October 30, 2014 | 2:00 p.m. – 3:00 p.m.
A nuclear deal with Iran? Weighing the possibilities

Join us, as experts discuss their predictions for whether the United States will strike a nuclear deal with Iran ahead of the November 24 deadline, and the repercussions of the possible outcomes.

Thursday, October 30, 2014 | 5:00 p.m. – 6:15 p.m.
The forgotten depression — 1921: The crash that cured itself

Please join Author James Grant and AEI senior economists for a discussion about Grant's book, "The Forgotten Depression: 1921: The Crash That Cured Itself" (Simon & Schuster, 2014).

No events scheduled this day.
No events scheduled this day.
No events scheduled this day.
No events scheduled today.
No events scheduled this day.