However, the potential negative effects of TPP on Europe should not be overstated: the European Union is in itself the world’s largest trade bloc and the lost income and export increases only amount to a small proportion of total figures.
Europe’s total GDP and export revenues are expected to reach $22,714 billion and $7,431 billion respectively by 2025.
The EU has also agreed to preferential trade agreements with a number of East Asian countries and is currently negotiating with Japan, aiming to conclude negotiations by the end of this year.