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Trade benefits of TTIP

Negotiations will soon begin on a monumental trade deal, known as a Transatlantic Trade and Investment Partnership (TTIP), between the European Union and the United States

Liberalising trade with both established and newer trading partners is an essential way to deliver growth, especially in a challenging economic context.

Securing a trade agreement between the EU and the US is the biggest prize of them all: a once-in-a-generation opportunity to free up trade between the world’s two largest trading blocs that together account for one third of global trade.

A successful deal would offer huge economic benefits – as much as £10 billion to the British economy, £100 billion to EU gross domestic product (GDP) and £80 billion to US GDP. The rest of the world would benefit too, with a knock on gains that could generate £85 billion worldwide.