Macroeconomics Updated: 06 Nov 2018
Keys to understanding the TTIP
The TTIP is a bilateral free trade agreement which aims to eliminate tariffs and reduce non-tariff barriers such as arbitrary differences in regulations and industry standards for products, services and foreign direct investment. The US and the EU account for over 40% of world trade and almost half of world GDP.
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![TTIP TTIP](https://www.bbva.com/wp-content/uploads/en/2016/04/info-TTIP-eng-150x150.jpg)