The paper tackles the problem of prospects versus threats resulting from the potential TTIP agreement between European Union and the U.S.A. In the first part of the article the possible benefits for the EU exporters of diary, meat products, wine, sugar and olives are presented. Those benefits seem to be rather illusory, even when the non-tariff barriers are limited. On the other hand many EU markets would suffer from serious market disruption because of American exports. This would affect beef, cereals, poultry, isoglucose and biofuels. The author also points out the differences in food safety standards, levels of support, which underpins the protection of the EU consumers and competitiveness of producers, should the TTIP agreement be implemented.