Germany’s economy minister said Sunday Aug. 28, 2016 that free trade talks between the European Union and the United States have failed, citing lack of progress on any of the major chapters of the long-running negotiations.
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The Transatlantic Trade and Investment Partnership was aimed at removing or reducing various barriers to EU-US trade.
Sigmar Gabriel, who is also Germany’s Vice Chancellor, said Sunday that “in my opinion the negotiations with the United States have de facto failed, “.
His Democratic rival Hillary Clinton has also rowed back on her previous enthusiasm for free trade deals, promising to pull out of TPP as it now stands.
Washington’s attitude appears to have softened after the vote to leave the European Union, with secretary of state John Kerry indicating that preliminary talks on trade could take place although no agreement could be signed until Brexit had actually happened. He said Europe “must not succumb to American demands”.
Christian Wigand, a spokesman for the European Commission, the EU’s executive arm and which is leading the TTIP negotiations, said Sunday that the institution had no comment or reaction at this time.
On the record, USA and European officials say they are continuing to move forward with talks and stress the importance of the TTIP to their economies.
“It will protect jobs, it will protect their regulatory rights, protect their abilities with respect to labour and the environment”, he said.
Mr Gabriel, who is also economy minister in Germany’s governing coalition and Chancellor Angela Merkel’s deputy, told a news conference that as a result, the world now regarded Europe as an unstable continent.
“We are determined to continue these negotiations”, added EU Trade Commissioner Cecilia Malmström.
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In the United States, presidential hopeful Donald Trump has repeatedly spoken out against free trade, including the long-established North American Free Trade Agreement, which opened up trade with Canada and Mexico in the 1990s. The most recent one took place in Berlin last weekend, with activists calling for a nationwide demonstration on September 17.
