A fresh round of talks began on Monday between the EU and US over the Transatlantic Trade and Investment Partnership - with policymakers on both sides of the Atlantic under pressure from strong domestic lobbies. And Britain's vote to leave the EU has now thrown a new spanner in the works of a process that already looks stalled.
"Is Brexit the end of the road for TTIP Many analysts think so - Britain has long been one of Europe's most enthusiastic proponents of breaking down regulatory trade barriers, and supporters of the free trade deal are worried that without British voices at the table, voices backing deregulation will be drowned out by countries like France who have more protectionist instincts. They're worried TTIP will let American producers undercut European farmers, introduce now-banned GM products and undermine Europe's food regulations - while the Conservative government in Britain is a much keener supporter of free trade. We're already seeing the balance shift in favour of protectionism - the EU's trade agreement with Canada, which was considered a done deal, will now have to be voted on and approved by every single Parliament in the EU. European governments are also well aware that one of the key driving forces behind Brexit was discontent among voters who believe they've lost out from global trade as jobs have moved elsewhere - and they won't be keen to sign any deal that increases that sentiment among their own voters," said Elena Casas, Brussels.