Justine Badimon, USCIB’s director of regional initiatives, spoke to students, faculty and stakeholders at the Fashion Institute of Technology (FIT) on March 13 regarding the current status and backdrop of the Transatlantic Trade Investment Partnership (TTIP).
A TTIP agreement is anticipated to be a comprehensive high-standard trade and investment agreement between the U.S. and the EU that will support U.S. jobs and international competitiveness.
“Regulatory differences will be a major stumbling block for the negotiations, but USCIB anticipates seeing improved regulatory cooperation in a successful outcome,” Badimon said. She discussed the negotiators’ uncertain timeline for a conclusion of the agreement, indicating that European parliamentary elections in May and a new European Commission taking office in November will likely draw out the talks.
Badimon sat on a panel of industry experts, discussing the effects of TTIP on the global fashion industry through the scope of international business. The panel was co-sponsored by the European American Chamber of Commerce and FIT’s Department of International Trade and Marketing. Other speakers included experts from the American Apparel & Footwear Association, PVH Corp. and Grunfeld, Desiderio Lebowitz Silverman & Klestadt LLP.
The timely event coincided with the fourth round of U.S.-EU trade talks in Brussels from March 10-14, where TTIP negotiators continued deliberations on market access, regulation and rules, with a focus on benefits for small- and medium-sized enterprises (SMEs). During the presentations, panelists gave an overview of the challenges facing negotiations, especially those affecting the fashion industry such as convergence on regulation of labeling, rules of origin, chemical management and product safety standards.
Staff contact: Justine Badimon