The Transatlantic Trade and Investment Partnership (TTIP) is a proposed free trade agreement (since 2013) currently being negotiated between the EU (led by the internal market) and the USA. The 12th round of discussions is expected to start later in February 2016 in Brussels, and the intention is to try and conclude the final text of the agreement in 2016, although some experts suggest that it will not be concluded until at least 2020.
TTIP has the potential, if concluded, to be the world’s largest bilateral free trade agreement. Supporters claim that it will lead to increased trade and stimulate growth and job creation on both sides of the Atlantic. Its key objective is to make it easier and cheaper for the EU and the US to trade goods and services by removing unnecessary barriers to market access and investment.