International Trade Law Article Analysis

Critical Summary Lowrey (2013), in her article, discussed the recent international trade negotiations currently going on between the United States of America and some of the countrys allies on the European continent. According to the article, these negotiations were started despite the revelations that former United States government contractor, Edward Snowden, made concerning the espionage activities of the United States on the European countries that could easily have set back the negotiation process. The negotiations are targeted at creating a comprehensive free trade agreement that will bear the title of The Transatlantic Trade and Investment Partnership between the United States and the European countries. The article posits that the agreement has the prospect of enhancing the economies of the involved parties by providing thousands of jobs and adding hundreds of billions of dollars in yearly growth, which will be timely, given the present state of their economies. The slated deadline for the completion of the agreement is the end of 2014 and while the whistle-blowing activities of Edward Snowden threaten to put the whole negotiations on hold, stakeholders including companies and countries as well as companies have continued to broker exclusions or inclusions. Given the political resolve of all involved parties for such an agreement to be in place, fuelled by the high unemployment and the low growth rates of their interlinked economies, the reactions triggered by Snowdens remarks have not halted the proceedings. Some of the issues that will face serious headwinds, in the words of the author, include intellectual property, agricultural policy, airline rights, and data privacy. In the wake of the International Monetary Funds prediction that there will be contraction in the Euro zone this year, such an

agreement is not only necessary for all the involved parties (encompassing nearly half of the global economy), but also for international trade on a global scale. The article also shed light on the exact figures by which the trade will impact households and increase the economies of the two economies involved. The similarity of the workforces of both economies were also highlighted in the article as well as the activities of various lobbying interest groups like the French domestic film industry. Comments from British Prime Minister and the European Trade Commissioner, as quoted in the article, reflect the solemnity and significance of the proposed agreement as far as Europe, United States of America, and a host of other countries are concerned.

Relevant Legal Issues Some of the relevant legal issues in the article are as follows: 1. The very nature of the agreement in itself: This is because it is supposed to be a partnership agreement that will promote investment and transatlantic trade between a number of countries and this requires that all involved parties negotiate certain carve-outs to suit their own interests. A partnership is a legal arrangement between two or more parties who are bound together by the common objective that led to their coming together in the first place. Cronin (2013) lends credence to this by stating that the agreement will result in a rules-based trading system. Each party may need to give up certain familiar views and accept other unfamiliar ones and law has a relevant role to play in creating a playing ground that is acceptable to the parties involved in the partnership.

2. The issues that will be treated: According to the article, some of the issues that the agreement will seek to address as far as international trade between the parties is concerned include intellectual property, data privacy, airline rights, and agricultural policy. By their nature, these issues are of a legal connotation and addressing them will imply addressing some of the legal issues that may arise in the process of carrying out international trade. The diverse cultures of both continents will cause conflicts that will require the dexterity of law to resolve. In the article, an instance was cited of the subject of genetically modified foods that always meet with protests in Europe but are widespread in the United States. As a matter of fact, the intricacies of the agreement will reflect a great deal of legal comprehension, without which it would have been impossible to reach an agreeable conclusion. 3. Negotiation: The various discussions that the entire agreement will require will see all involved parties compromise on some of their interests in order to ensure that there is a resolution, irrespective of how difficult it might be. Negotiation is a legal issue because it embodies what transpires between two or more parties that are willing or not willing to conclude on a given matter. Owing to the predilection of the parties involved to have conflicting interests, negotiation is a tool that will be resorted to if there is to be headway as it is what leads to a final agreement between the parties involved. The importance of negotiations in the entire agreement can be seen in the request made by the coalition of American and European consumer goods for the negotiating texts to be released to the public. The legality of the issue thus becomes clear as it dovetails with the other legal factors and brings them into play.

Implications of the Issues on International Trade The implications of the above-mentioned issues on international trade are as follows: 1. The partnership agreement between the involved parties has significant implications on international trade because as the article suggests, the agreement involves almost half of the global economy. Since their economies are linked and the partnership agreement also serves to foster free trade between the partners, international trade between partners (or half of the world economy) will be encouraged and this will boost the economies of the involved nations. For instance, the barriers that lie behind the U.S customs border can be tackled effectively (EU, 2013). 2. Issues like agricultural policy and intellectual property have a great role to play in the exchange of goods and services in international trade. The export and import of agricultural commodities and fashion designs for instance, will be positively affected provided the partnership favors such. 3. The importance of negotiation in international trade cannot be overemphasized because of its immense value in determining whether a trade will happen or not. The art of negotiation is needed on the international trade scenario because its outcome determines whether the trade will be carried out or not and in the case of the Transatlantic Trade and Investment Partnership agreement, helps to generate additional transatlantic foreign direct investment (Welfens, 2013).

Reference List

Cronin, Z. (2013, July 7). Negotiations for the Transatlantic Trade and Investment Partnership Have Begun. Retrieved July 24, 2013, from United States Trade Representative Website: http://www.ustr.gov/about-us/pressoffice/blog/2013/july/TTIP-negotiations-begin EU. (2013, July 24). Transatlantic Trade and Investment Partnership (TTIP). Retrieved July 24, 2013, from European Commission Website: http://ec.europa.eu/trade/policy/in-focus/ttip/ Lowrey, A. (2013, July 8). Sore Feelings as U.S. and Europe Begin Trade Talks. Retrieved July 24, 2013, from New York Times website: http://www.nytimes.com/2013/07/09/business/global/sore-feelings-as-us-andeurope-begin-trade-talks.html Welfens, P. (2013, July 15). Monitoring the Negotiations on the Transatlantic Trade and Investment Partnership Agreement. Retrieved July 24, 2013, from American Institute for Contemporary German Studies Website: http://www.aicgs.org/issue/monitoring-the-negotiations-on-the-transatlantictrade-and-investment-partnership-agreement/