European and American Machine Tool Associations issued a joint statement on TTIP

A few days ago, the European Machine Tool Federation and the American Society of Mechanical Manufacturing Technology issued a joint statement, welcoming the EU and the United States to reach a comprehensive Transatlantic Trade and Investment Partnership (TTIP). The statement pointed out that the highly innovative machine tool industry not only needs to reduce tariffs, but also needs specific measures to reduce trade barriers. Differences between European and American regulations lead to differences in technical requirements, norms, standards, conformity assessment procedures and licensing procedures, which can cause companies to waste time and resources in adapting to regulations. Compatibility standards will address this issue and further improve efficiency. To this end, the European Machine Tool Federation and the American Association of Machine Building Technology have called for the standardization of monitoring and authorization procedures, and called on legislatures and ministries to increase information transparency on planning regulations and roadmaps.