Europe's claim to be the global champion of open trade and a counterweight to the threatened protectionism of U.S. President Donald Trump risks ringing hollow if it cannot sign a new Pacific free trade deal by the end of 2017.
As part of the process, the European Union needs to persuade an EU public wary of globalization that it will profit from more trade. This has led it to demand more from would-be partners, increasing the risk of failure or delay.
For the past three years, the EU's trade agenda has been dominated by Transatlantic Trade and Investment Partnership (TTIP) talks with the United States. Following the U.S. election, they are "frozen," EU trade chief Cecilia Malmstrom said in a March speech, however, that TTIP was not the only game in town.