No panaCeta

Sam Lowe, trade expert at the Centre for European Reform, has collated estimates for other potential EU agreements. The largest is for Japan, with an upper estimate of 0.76 per cent of GDP. But as he notes the majority of these gains are forecast in the areas of food, feed, and processed food, with much less coming from services. This is also the most optimistic forecast, the least optimistic has gains of 0.39 per cent. Forecasts for an EU-US agreement, unlikely as that now seems, come in around halfway between Japan and Canada.