The proposed Transatlantic Trade and Investment
Partnership (T-TIP) between the United States and
the European Union could benefit both regions; the
US would realize an increase in agricultural exports
US would realize an increase in agricultural exports
and the EU would benefit from lower import prices
and larger macroeconomic gains than the United States.
The T-TIP aims to address several important barriers facing agricultural trade, including tariffs, tariff-rate quotas (TRQs), and non-tariff measures (NTMs).
The study uses model simulations to assess the effects of T-TIP on agriculture under three broad scenarios: complete removal of tariffs and TRQs; elimination of select NTMs along with tariffs and TRQs; and a lowering of the willingness of consumers to purchase imported goods previously limited by NTMs.
To read the full study, please click here.