Unleashing Our Economic Potential: A Primer on the Transatlantic Economic Council

Half a century of progress toward the elimination of tariffs and quotas around the globe has helped generate prosperity in the United States and abroad.  However, protectionists are honing new tools that threaten the long-term competitiveness of U.S. companies in global markets.

This threat is urgent and growing.  Increasingly burdensome and interventionist policies in the areas of intellectual property (IP) law, standards, (e.g. technology, environment, health, and safety), state owned enterprises, subsidies, competition policy, and investment regulations are hindering the operation of efficient markets and preventing some of the most successful and innovative companies from commercializing their technologies in foreign markets.  Not only will companies be disadvantaged, but consumers are likely to face fewer choices and higher prices.

The Chamber's Global Regulatory Cooperation Project (GRC) seeks to develop new strategies that promote market-oriented policies with foreign governments.  The business community must work together to look beyond tariffs and non-tariff border measures and adopt a holistic approach that captures the many different types of In-Country Barriers (ICBs) that impede trade.  A new coordinated approach is needed to overcome the current piecemeal and sporadic efforts by individual companies, industries, and various government agencies.   In addition, the U.S. must take a hard look at its own policies and identify similar practices that unfairly protect our markets, prohibiting foreign firms from competing fairly in the U.S. market. 

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