The lengthy negotiations between the European Union (EU) and the African, Caribbean and Pacific (ACP) states on a new trade regime are running out of time ahead of its year-end deadline. The available options are all unpalatable or difficult. Depending on which is adopted, in the next six months many ACP states will see either the profitability of their exports to the EU decline - and in some cases collapse – or, the EPA negotiations continue and the most critical details finalised.