Half of all world exports are from the US and Europe. Added together, the two constitute the largest, wealthiest market in the world, accounting for over 54% of world GDP in terms of value and 40% in terms of purchasing power. There are many reasons why a trade deal between the two makes sense in the minds of both policymakers and business-owners (a successful pact would boost growth and jobs in both regions, and offer the US and EU a better chance of standing up to an increasingly powerful China, for example).

So why are negotiators working on the deal probably in for the long haul? One reason is that there are some culturally sensitive areas for both regions – in particular, agriculture and food. Here are some potential sticking points:

For US exporters trying to get their products into the EU –

• Genetically engineered crops. Big in the US; restricted in the EU
• Hormone-treated beef. The US thinks it’s fine; the EU has banned imports of the stuff
• Poultry washed in chlorine. The EU likes its chickens washed in water that is good enough to drink
• EU import ban on live pigs and beef washed in lactic acid. Both these are being lifted as a sign of good faith from the EU
• The Common Agricultural Policy. European farmers receive big subsidies from the EU; it’s something that the French, for one, are not likely to give up without a fight

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