The TTIP As a Key Factor of Convergence between US and EU Regulatory Models

Abstract

The Transatlantic Trade and Investment Partnership represents a great chance to reduce or eliminate trade's barriers between the US and the EU. It is also a crucial opportunity to intensify the regulatory cooperation between the two biggest economic areas in the world. Its goal is to level out commercial standards and eliminate unnecessary regulatory differences. The main innovation from this point of view would be the institution of a permanent mechanism for future cooperation on all the regulatory measures that could produce transatlantic effects. Through the institution of a stable Regulatory Cooperation Body able to identify the areas in which to enforce the cooperation, the agreement would facilitate the exchange of regulatory experiences and principles between the parties. Overtaking harmonization and mutual recognition, this deal aims at establishing a permanent dialogue to prevent the emergence of regulatory differences. This paper tries to understand if the TTIP could be the first step towards the creation of a global regulatory network characterized by the implementation of good regulatory practices. Moreover, it is aimed at understanding how the treaty is going to impact the way the US and the EU make and think regulation.