The EU and the US are currently working on one such "free-trade" agreement. It will make importing goods from the US easier, but it will also allow American companies to circumvent the stricter consumer protection laws in Europe (e.g. privacy laws and food regulations).
Free-trade agreements are a double-edged sword. Pretending they're universally and unambiguously beneficial by default is absurd. Especially with the amount of lobbying (including domestic companies lobbying abroad via their local subsidiaries) that influences their terms.
BTW, many Europeans don't think of these regulations (privacy laws, etc) in the EU as regulations, they think of them as rights. Facebook & co have to jump to ridiculous hoops[0] to use their business model in Europe -- for the users, that's a feature, not a bug.
Free-trade agreements are a double-edged sword. Pretending they're universally and unambiguously beneficial by default is absurd. Especially with the amount of lobbying (including domestic companies lobbying abroad via their local subsidiaries) that influences their terms.
BTW, many Europeans don't think of these regulations (privacy laws, etc) in the EU as regulations, they think of them as rights. Facebook & co have to jump to ridiculous hoops[0] to use their business model in Europe -- for the users, that's a feature, not a bug.