by Alasdair MacLeod
Gold Money
President Obama weighed into the Brexit debate on his recent visit to the UK, saying that if Britain left the EU, she would be at the back of the queue when it comes to a free trade agreement.
If this was intended to scare voters into voting Remain, the tactic seems to have failed, with the subsequent swing in the polls favouring Brexit. However, this intervention has drawn widespread attention to the current trade negotiations between the US and the EU, known as T-TIP.
It stands for Transatlantic Trade and Investment Partnership, and is intended to be a free trade and investment agreement between the United States and the (currently) 28 member states of the EU. It makes eminent sense to have free trade between these two economic powers, which account for over 50% of world GDP.