- Opposition to the Transatlantic Trade and Investment Partnership (TTIP) has reached new heights with German citizens marching in the streets to voice their disapproval.
- The deal faces severe criticism from unions, environmental groups, charities and opposition parties who fear it will erode environmental standards, result in lax regulation for the protection of consumer rights among other concerns.
- Nearly 150,000 people took to the streets to march in protest earlier this week in Berlin.
- The TTIP is the biggest trade deal in recent times, with businesses looking forward to over a $100 billion of economic gains.
- The TTIP is a proposed free trade agreement between the United States and the European Union, with the aim of promoting economic growth.
- The EU hopes to sign the deal soon, but suspects the process will be delayed by the November 2016 Presidential elections in the US.
- The deal proposes to lower trade barriers, and thus facilitate widespread bilateral investment.
- A number of documents concerning the deal, including a draft proposal have been leaked on the Internet in the recent past.
- The possible repercussions of the deal on the environment are already apparent, with draft EU criteria concerning the banning of certain pesticides having been dropped in the face of a possible trade backlash from the EU.
News Item Compiled by Krittika Chavaly