A couple weeks ago, I mentioned the different views of the US and EU on how the TTIP talks should deal with regulatory issues. Now we have dueling speeches by the head trade officials of each side. In a nutshell, as set out by US Trade Representative Mike Froman, the US wants the EU to modify its regulatory process to add features such as public comments on draft regulations. By contrast, as set out by EU Commissioner Karol De Gucht, the EU thinks there should be a Regulatory Cooperation Council under the TTIP, to help minimize regulatory differences (thus focusing on the outcome, not the process).
On some issues, I try to remain neutral, and just present both sides. On this one, however, I will soon be on record as favoring the cooperative approach. For the last few months, I've been working with my colleague Inu Barbee on a paper arguing for using the US-Canada Regulatory Cooperation Council as a model for how the TTIP should deal with regulatory issues. It will be published in the next issue of the JIEL (we just sent them the final version).
But in the interest of promoting a vigorous debate, anyone who supports the US view of this issue should feel free to explain in the comments why this is the better approach.
