Question

To ask the Secretary of State for Business, Innovation and Skills, which existing regulations will not be part of the Trans-Atlantic Trade and Investment Partnership agreement.

One of the main aims of the Transatlantic Trade and Investment Partnership (TTIP) is to reduce unnecessary regulatory differences between the EU and the USA to encourage greater trade, particularly by SMEs who find overcoming regulatory differences to be a significant barrier to exporting. Both the EU and the USA have been clear that this will not come through lowering levels of consumer and other protections, and where this is not possible regulatory differences will not be eliminated. Reducing regulatory differences could be achieved through various methods such as mutual recognition of regulations, mutual recognition of conformity assessments, use of international standards, and alignment of future regulations. Over half of the projected benefits from TTIP are projected to come from this greater regulatory coherence.