MEPs think probably not - but they're angry with US moves to reduce the dollar's value and determined to curtail demands for personal data.

A tea party effect on EU US relations.

https://api.multimedia.europarl.europa.eu/documents/20125/15306601/n001-101111-002-en.srt

One billion dollars a day,  that’s the sum generated by EU-US trade.

But the Republican majority now in  Congress could lead this figure to drop.

Protectionism is in the air,  but some still hold out hope.

Many analysts tell us that some in  the Republican camp favour more trade.

I think it was more a debate  about internal American policy.

Jobs and the economy  are worrying Americans.

The mid-term elections saw  a clear Republican victory,

but it’s the highly conservative  Tea Party that most concerns Europeans.

They’re very inward-looking  and very nationalistic.

That is very dangerous,  for the US and our cooperation.

The Federal Bank's move to lower  the dollar sparked heavy criticism

as did the restrictions placed on travellers  who need a visa to enter the US,

torture cases and the transfer of  personal data.

We have to put a limit on the idea  that the United States

needs more information  about personal data.

The agenda of the EU-US summit in  November will be packed.

Despite these problems,  many MEPs remain optimistic.

Neither the US or the EU  wants to endanger

a partnership that brings in  3.3 trillion euros.