One could argue otherwise. The Eurozone is reminiscent of the 'Sterling Area'. The basic principle of trade local first, sterling area second and everyone else

One could argue otherwise. The Eurozone is reminiscent of the 'Sterling Area'. The basic principle of trade local first, sterling area second and everyone else last. This is strikingly similar to the Eurozone today. The EU basically puts the US down last as a large trade partner. China may be a big trader but EU/US trade is something beyond words. TPP is something that seeks to wear down this 'last preference' down to get a better deal than the rest of the world.