It used to be that American and European companies built their products in low-wage countries, separated by great distances from the innovators who developed the products and the markets where they were sold. But companies increasingly find that is an outmoded way of doing business.

By reducing trade barriers, improving intellectual-property protections, and setting international rules of the road, TTIP has the potential to improve America and Europe's global competitiveness and strengthen their comparative advantages.

From Siemens's perspective, a trade agreement like TTIP makes the U.S. and E.U. members more attractive.

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