article_snippet: The EU and the US government are negotiating a new free trade pact – known as TTIP – which will lift barriers to trade in key sectors of the economy across the Atlantic.
article_snippet: a new trade deal with America will make a new trade deal with America easier for companies on both sides of the Atlantic to access each other’s markets, affecting pharmaceuticals, cars, energy, finance, chemicals, clothing, food and drink.
article_snippet: which is the biggest free trade deal in history.
article_snippet: The British Government is one of the driving forces in the EU to get the new free trade deal approved.
article_snippet: The British Government claims TTIP could add £10billion to the UK economy, £80billion to The US and £100bn to the EU the EU every year.
article_snippet: David Cameron has promised to put ‘rocket boosters’ behind talks to secure the new free trade deal, saying TTIP is central to David Cameron vision of a reformed competitive Europe.
article_snippet: Once the new free trade deal is signed, US companies will be able to take governments in Britain and Europe to court if US companies feel US companies products are being unfairly kept out, which could involve huge financial penalties and compensation.
article_snippet: The CBI business organisation director general, John Cridland, said: ‘the new free trade deal is vital for future growth and the prosperity for citizens across the EU.
highlights_snippet: Concerns come as UK and US negotiate a new free trade pact .