On September 20th, the European Union headquarters in Brussels heard the many protests of thousands of angry citizens and trade union activists alike. These groups believe that the discussion of trade deals such as the Transatlantic Trade and Investment Partnership (TTIP) with the US, and the Comprehensive Economic Trade Agreement (CETA) with Canada will push the agendas of big corporations ahead of the rights of consumers, laborers, and the safety of the environment.
Advocates of the deals claim that their implementation will increase the employment in the job market, help eliminate difficult tariffs, and promote economic expansion in both the US and EU. European Commission spokesman Daniel Rosario stated that CETA is “the best and most progressive trade agreement.”
Surrounding countries feel the tension from these trade agreements. Similar public demonstrations of protest have occurred in the last few days in Germany after politicians have announced their support of the deals. Furthermore, Bulgaria, Hungary, Romania, and Slovenia are all hesitant to adopt so quickly any agreements that have brought forward so many concerns.
Emily H. Harris
Economics Intern from University of South Florida St. Petersburg at Binger Financial Services, LLC | bingerfinancial.com