AIRLINK 78.39 Increased By ▲ 5.39 (7.38%)
BOP 5.34 Decreased By ▼ -0.01 (-0.19%)
CNERGY 4.33 Increased By ▲ 0.02 (0.46%)
DFML 30.87 Increased By ▲ 2.32 (8.13%)
DGKC 78.51 Increased By ▲ 4.22 (5.68%)
FCCL 20.58 Increased By ▲ 0.23 (1.13%)
FFBL 32.30 Increased By ▲ 1.40 (4.53%)
FFL 10.22 Increased By ▲ 0.16 (1.59%)
GGL 10.29 Decreased By ▼ -0.10 (-0.96%)
HBL 118.50 Increased By ▲ 2.53 (2.18%)
HUBC 135.10 Increased By ▲ 2.90 (2.19%)
HUMNL 6.87 Increased By ▲ 0.19 (2.84%)
KEL 4.17 Increased By ▲ 0.14 (3.47%)
KOSM 4.73 Increased By ▲ 0.13 (2.83%)
MLCF 38.67 Increased By ▲ 0.13 (0.34%)
OGDC 134.85 Increased By ▲ 1.00 (0.75%)
PAEL 23.40 Decreased By ▼ -0.43 (-1.8%)
PIAA 26.64 Decreased By ▼ -0.49 (-1.81%)
PIBTL 7.02 Increased By ▲ 0.26 (3.85%)
PPL 113.45 Increased By ▲ 0.65 (0.58%)
PRL 27.73 Decreased By ▼ -0.43 (-1.53%)
PTC 14.60 Decreased By ▼ -0.29 (-1.95%)
SEARL 56.50 Increased By ▲ 0.08 (0.14%)
SNGP 66.30 Increased By ▲ 0.50 (0.76%)
SSGC 10.94 Decreased By ▼ -0.07 (-0.64%)
TELE 9.15 Increased By ▲ 0.13 (1.44%)
TPLP 11.67 Decreased By ▼ -0.23 (-1.93%)
TRG 71.43 Increased By ▲ 2.33 (3.37%)
UNITY 24.51 Increased By ▲ 0.80 (3.37%)
WTL 1.33 No Change ▼ 0.00 (0%)
BR100 7,494 Increased By 60.2 (0.81%)
BR30 24,599 Increased By 379.2 (1.57%)
KSE100 72,052 Increased By 692.5 (0.97%)
KSE30 23,808 Increased By 241 (1.02%)

imageWASHINGTON: Americans and Germans are broadly supportive of a US-EU free-trade pact under negotiation, but differ over details, especially forging similar goods and services standards, according to a survey released on Wednesday.

Common regulatory standards are perhaps the most ambitious objective of the bilateral talks that began last July to create the world's biggest free-trade zone.

The so-called Transatlantic Trade and Investment Partnership (TTIP) would vastly expand the US-EU economic relationship, already the world's largest, through a multipronged approach that includes tariff cuts and improved market access.

But hopes to conclude a deal by the end of 2014 have faded as talks bogged down, particularly over agricultural, food and environmental issues, with the US and EU at odds over regulations to protect people and the environment.

The Pew Research Center, in partnership with the Bertelsmann Foundation, the North American arm of the Germany-based private non-profit foundation , took a look at how residents of the world's largest economy and Europe's main powerhouse view the prospect of the new pact.

In 2013, the US was Germany's fourth biggest export market and source of imports. And Germany was the fifth-largest trading partner of the United States. US-EU trade totaled $649 billion, according to US government data.

The survey found that roughly the same number, 53 percent of Americans, and 55 percent of Germans, think that TTIP will be a "good thing" for their country.

But the respondents diverged over details of what would be the most economically significant regional free-trade agreement in history, especially disagreeing on harmonizing regulatory standards.

While 76 percent of the Americans surveyed supported making American and European standards for products and services similar, only 45 percent of Germans felt that way.

"On a range of consumer issues, Germans simply trust European regulatory norms more than American ones," the Pew report said. Americans, on the other hand, were supportive of US standards but not as strongly.

The longstanding US-EU dispute over the safety of genetically modified organisms used in US crops, including soybeans and corn, and US poultry and meat, stood out clearly in the survey findings.

More than nine in 10 Germans (94 percent) said they trusted EU food-safety standards and only 2.0 percent trusted US regulations, the survey found.

A tepid two in three Americans (67 percent) trusted US food-safety standards and 22 percent of Americans trusted European standards.

Similar lopsided trust was found in auto and environmental safety standards on both sides of the Atlantic.

Data privacy:

Standards for data privacy, a sensitive issue exacerbated by the revelations of US National Security Agency spying, including listening in on phone calls made by German Chancellor Angela Merkel, stirred widely divergent views.

A large majority 85 percent of Germans trust European rather than US data privacy standards.

And not quite half of Americans 49 percent trusted the US standards, while 23 percent did not trust either the US or EU standards or had no opinion.

Another main finding of the surveys was a difference in motivations for backing the deal: China.

Americans were somewhat more in favor of the deal as part of a desire to boost competitiveness with the United States's second-biggest trading partner.

Forty-three percent of Americans said that was the most important reason TTIP is good for their country, compared with 32 percent of Germans.

A strong majority of Germans 63 percent said that more trade with China would be beneficial to their country, while only 51 percent of Americans held a similar view.

Pew Research noted that the differences in sentiment may reflect the fact that the US trade deficit with China was 36 times greater than Germany's imbalance with China in 2013.

The data was compiled from national telephone surveys in the US and Germany. In the US, 1,002 adults were surveyed from February 27 to March 2. In Germany, 953 were polled on February 25-26.

The margin of sampling error for the survey was 4.2 percentage points.

Comments

Comments are closed.