The Trade in Services Agreement (TiSA) has been in the works since April 2013 and it could soon become America’s most important trade deal. Service industry of US accounts for three quarters of the GDP and four out of every five jobs in the U.S., according to official statistics.
The members to deal include all EU states, the U.S., Australia, Canada, Mexico, Turkey, Korea, Japan and 15 other countries. They represent nearly 70% of the world’s $55 trillion services market, the trade department said.
Bus many groups are seem to be against it as they think the deal will deteriorste the quality of service due to the sale of privatization in it. However, officials negotiating the deal said public services would be protected from privatization.
The U.S. has two other big trade deals in the works. The big TPP deal with 11 mostly Asiais also Plus it is still pushing for the Transatlantic Trade and Investment Partnership (TTIP) with Europe. The deal is worth $34.2 trillion and has been in the works for more than three years.