The European Commission and U.S. executive published a report on the progress made in negotiating the Transatlantic Trade and Investment Partnership (TTIP). Even in the best of circumstances the report shows the significant distance the deal still had to travel to be completed. In any event though the incoming U.S. administration is unlikely to prioritize the deal initially. The EU will be tied up with Brexit. A deal is needed though – U.S. trade with the bloc fell around 3% in the quarter to November 30 on a year earlier.