Missing a major point: the pre-tariff trade relationship included a host of unilateral restrictions on US exports to the EU intended to help grow the economies of European countries after WWII, which have outlived their relevance by several decades. The previous TTIP stalled in part because the EU's expectation was lower barriers for European exports while maintaining the historical barriers to US imports to the EU. The reason why this is interesting is that the EU is now willing to "work together" toward _mutually_ free trade. The question is now that the EU seems willing to decrease its mercantilist outlook, will China be obliged to follow suit.