US & EU officials are meeting for a seventh round of talks for an agreement known as Trans-Atlantic Trade and Investment Partnership or TTIP. If it is fruitful, it is to be the world’s biggest trade zone. The deal is to worth around £393bn ($613bn) a year.
This trade deal was initiated by British Prime minister David Cameron in 2013, to reduce tariffs and make common regulations for trade markets. TTIP would provide many companies with advantages to follow same regulations for a wide markets. TTIP has been stalled by vetoing of France and opposition of Unions & NGO’s (Non-Governmental Organisations) in Britain.
Source – BBC