TTIP is a trade agreement. It is the conditions under which American legislatures will declare various trades legal or illegal.
The Embargo Act of 1807 was specifically designed to tell Great Britain: "STOP DRAFTING OUR SAILORS!". (It failed spectacularly at doing that... but that was clearly the intent). We saw what Great Britain was doing, we didn't like what they were doing, and we created a trade policy (ie: stop all trade... everywhere) in an attempt to punish Great Britain.
The difference is that TTIP is more nuanced and better reasoned. It is also more intricate in defining what is and isn't a trade violation.
You're right, we care more about American Exports today because we have an understanding of how American jobs will be affected by TTIP. By pushing American Chemicals on the TTIP, we are favoring American trade.
Now European health groups will push back. But in the end, the trade dispute will probably benefit all countries involved.