Trade officials in Brussels and Washington signaled the go-ahead to resume negotiations on a Transatlantic Trade and Investment Partnership (TTIP) agreement. However, the latest proposal out of Europe has been panned by U.S. business groups.

Trade Advantage: EU The U.S. dollar has gained about 17 percent in value versus the euro over the past year, and if exchange rates are determinative, they've had a tremendous impact on trade. The EU was a much larger supplier of food to Russia than the U.S. before Moscow's embargo, and yet it is the U.S. agricultural trade balance that has been most adversely affected. Europe's food sales to Russia are down 43 percent, but America's are off 65 percent. And while the EU instituted compensatory meas...