The United States is still Europe's most important trade partner. Europe should regulate trade with the transatlantic relationship in mind despite US disengagement, writes Heidi Obermeyer.
In the past, it was easy to make the case for free trade. Free trade agreements seemed to create opportunities, help millions out of poverty, and generate growth. Today, a growing number of Europeans and Americans believe that the opposite is true. The article points out in how far TTIP should be rethought and redesigned to regain the public trust.
America insists Europeans are not aligned to the science which proves there is absolutely no risk to consuming genetically-modified food.
But that single emotive issue could potentially bring down the €4 trillion (£3.1 trillion) Transatlantic Trade and Investment Partnership (TTIP).
Europe, though, is standing firm on this hugely controversial chapter of the free trade deal, and that in turn may scupper the stated ambition of both camps to have a sign-off on TTIP by the end of this year.
Some 400 activist groups marched all over Europe on Saturday (11 October) in protest against the Transatlantic Trade and Investment Partnership (TTIP), as the EU-US trade deal crystallises opposition to a wide variety of issues – from shale gas to corporate finance.