The Transatlantic Trade and Investment Partnership (TTIP), also known as the Transatlantic Agreement, is a proposed free trade agreement between the European Union (EU) and the United States (US). Negotiations for the agreement began in 2013 but have since been suspended with no clear resolution in sight.

The TTIP`s primary goal was to reduce trade barriers between the US and the EU, including tariffs, regulatory barriers, and non-tariff barriers. Supporters of the agreement argue that it would have created jobs, increased economic growth, and lowered prices for consumers on both sides of the Atlantic. However, opponents raised concerns about the potential impact on consumer safety, environmental regulations, and labour rights.

The negotiations for the TTIP were highly controversial, with public opposition and protests on both sides of the Atlantic. Critics argued that the negotiations lacked transparency and that corporations had undue influence over the process. Additionally, activists argued that the TTIP would have undermined democratic decision-making and led to a “race to the bottom” in terms of environmental and labour protections.

Despite the suspension of negotiations, the TTIP remains a significant topic of discussion. The EU and the US remain close trading partners, with over $1 trillion in goods and services traded between the two economies each year. Furthermore, the transatlantic relationship remains vital for both parties, as the two economies account for half of global GDP and over a third of global trade.

Overall, while the TTIP negotiations have been suspended indefinitely, the issue of transatlantic trade remains an essential topic for both the EU and the US. Any changes to the current trading relationship between the two economies are likely to have significant economic and political implications.