Transatlantic Trade and Investment Partnership. TTIP's role in terms of politics, security, and defense

Seminar paper from the year 2023 in the subject Economics - International Economic Relations, grade: 1,3, University of Applied Management, course: Global Economics, language: English, abstract: What positive impact does TTIP have on policy, defense, and security? Observing the humanitarian crisis in Venezuela, the political instabilities in African nations such as Syria, Iraq, and Libya, the war in Yemen, and the terrorism in Afghanistan caused by the Taliban shows that the world is currently facing security challenges. Above all, the Ukraine war, which began with Russia's invasion on February 24, the crisis in North Korea, and the confrontation over the Taiwan issue are of particular concern. In addition, there are other political uncertainties. According to the Council on Foreign Relations, 70.8 million people are displaced due to the war. This migration crisis is an issue that the EU and the US, especially, have to deal with. Furthermore, the global Covid-19 pandemic has been on the agenda since 2020. Accordingly, both military and health risks exist. This chapter focuses on the transatlantic trade and investment partnership "TTIP" and its impact on security. The TTIP negotiations between the EU and the USA reached a standstill at the end of 2016. Despite the possibility that the treaty would enable the two powerful economic nations to develop further and strengthen their ties. Furthermore, the agreement aimed to create up to 13 million new jobs. Nevertheless, the TTIP negotiations are gaining traction due to global circumstances. As already explained, many skeptics, such as charities, environmentalists, and NGOs, for instance, strongly criticize the agreement. There have also been some large-scale demonstrations in European countries. Nevertheless, TTIP also has benefits, especially concerning the economy.