In her piece “Private Rule-Making in the TTIP: The Role of Standard Setting,” Global Europe Fellow Michelle Egan discusses the regulatory differences in American and European trade standards. Egan breaks down regulatory mechanisms in both the EU and US, and analyzes potential points of tension in future rounds of negotiations. She argues that, differences in the two systems do increase trade costs and complicate matters for American and European traders alike. Therefore, the goal is create a new system that promotes regulatory cooperation. She offers four important points that need to be addressed in negotiations. Egan concludes that the EU and the US must go beyond their “entrenched positions” and embrace best practices.

This essay was prepared as part of a special Cato online forum on “The Economics, Geopolitics, and Architecture of the Transatlantic Trade and Investment Partnership.”

Read the full piece here.