‘EU will be damaged if US trade deal is not agreed’

Failing to agree a trans- atlantic free trade deal would be damaging for the EU and send a message that the bloc has waning international importance, said Britain’s minister for Europe.

This year is crucial in making progress on the Transatlantic Trade and Investment Partnership (TTIP) before US president Barack Obama leaves office, but so far nothing has been agreed. Each side has accused the other of trying to protect specific industry interests.

“If the TTIP project fails I think that will send a really dismaying message about Europe’s waning importance in world affairs,” David Lidingtontold an event on EU reform. “We should not pretend that that will have anything other than a damaging impact both economically and diplomatically.”