There's a good article about it all here:
http://www.theguardian.com/membership/2015/feb/18/guardian-live-what-is-ttip-and-how-does-it-affect-usbut essentially those favouring the deal (the wealthy, big companies, those who don't like environmental protections) argue that it's simply a trade deal to make it easier for Europe to trade with the US. They also argue, as does G Bebb, that it's no different to the many other trade deals done across the world.
Those opposing the deal do so on several grounds: because it's a mighty complex deal one of the factors needed to make it work is standardisation between US regulations and EU regulations, and if you look at some US regulations you'll see they're very different to ours in some important ways, one of which is food safety. Another is big pharma.
Another worry is that the US is home to the totally capitalist system, which is fine as far as it goes. But for us to complete the deal the concern is that we'd have to accede to the same degree of regulatory freedoms, and that could lead to some very undesirable effect. The one most frequently quoted is that without significant safeguards, US companies would be able to take over the NHS. Mr Bebb not only thinks this is mindless scaremongering, but all the deal has been done in the open. That, however, doesn't appear to be the experience of the German MP, Katja Kipping, who was only allowed to review the detailed documents, running to more than 300 pages, for 2 hours, in a locked room having had to surrender her mobile 'phone, any cameras and her jacket and bag before being allowed to see the text.
So, the big question remains: if the deal is as wonderful as Mr Bebb and others like him seem to believe, why has almost all of it been done in secrecy (it's been going on for more than two years, now - heard anything?) and why is it still so incredibly difficult to discover the details of what's happening?
As to the effects it could have on us as individuals, the big problem is that no one can say for sure what those effects will be. However, at the moment anything sold in Europe has to comply with strict safety regulations, and we have up to six years warranty on expensive goods (which many don't realise). The US standard warranty is six months, and sometimes a whole year.
Finally, and perhaps most worryingly, there is the little issue of ISDS. ISDS stands for ‘investor-state dispute settlement’. This is a key issue with the TTIP proposal: ISDS allows businesses to take legal action against governments if they act in ways that infringe the trade agreement. This means businesses will have more of a say in public policies and may even sue if one country does something to impact profits - like increasing the minimum wage or freezing energy prices during a financial crisis.
An ISDS provision in Australia’s investment treaty with Hong Kong allowed tobacco giant Philip Morris to sue the Australia government for compensation of lost profits because of Australia’s plain packaging laws. Philip Morris was able to do this through its Hong Kong subsidiary, because of the ISDS provision in the trade treaty.
ISDS tribunals allow businesses to claim compensation not just on lost profits, but on potential loss of profits in the future. Currently, decisions made in one court can be challenged and taken to another; with ISDS, there is one court and one decision – and that can’t be challenged.
So, take your choice: greater trade freedoms with the US, the opportunity for a few to become very much richer, or loss of consumer protection, possible privatisation of the NHS or the government being sued if they try to stop it and - above all - extremely secretive negotiations. Sound good?
