For EU food and drink producer’s current tariffs and regulation compliance are equivalent to a 13% tax on their products. This has large effect on these products being able to compete in the US. TTIP should reduce these tariffs, allowing EU producers to compete on a level playing field in the US, giving better consumer choice of high quality EU produce. However, many people have expressed concerns that TTIP will lower food safety standards and norms in the EU, this is not the case.
Whilst TTIP will make it easier for the EU and US trade in food, it does not mean the US will no longer have to comply with EU standards. All food entering the European Union, including from the US, will still have to continue to comply with existing and future EU standards and laws. Like all standards, be it food, environmental or labour, TTIP offers the chance not only to cement high standards on both sides of the Atlantic to set the gold standard for future trade agreements.