Are the United States and the European Union able to set up a transatlantic free trade area? This is not the first time this question has surfaced. Over the last quarter century several transatlantic trade arrangements have ended in failure. Of late, the EU and the US have fundamentally differed when it comes to negotiating the Transatlantic Trade and Investment Partnership (TTIP). These negotiations, which began in mid-June 2013, were frozen on 17 January 2017.