Sean Heather is vice president of the U.S. Chamber’s Center for Global Regulatory Cooperation (GRC)
There are reasons for concern with this decision.
The greatest difference between the U.S. and EU approaches lies with the philosophy that underpins the function of competition enforcement.
Benjamin Franklin once said that “nothing can be said to be certain, except death and taxes.” But those following Brussels policy debates know of a third uniquely European certainty — the unbridled power of EU competition enforcement.
As foreseen, EU Competition Commissioner Margrethe Vestager on Wednesday announced that tax arrangements offered by Luxembourg and the Netherlands are in violation of EU State aid laws.
It underscores why American investors need investment protection and a meaningful Investor-State Dispute Settlement mechanism to be at the core of any transatlantic agreement.
To safeguard international investments, countries enter into bilateral investment treaties (BITs). The United States also includes these safeguards for investments in our trade agreements. They ensure international investors are not subject to discrimination, are treated fairly and are compensated in the event of expropriation.
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