European Union talks with the United States over the planned free trade agreement known as TTIP have failed, Economy Minister Sigmar Gabriel said Sunday.
European Union talks with the United States over the planned free trade agreement known as TTIP have failed, Economy Minister Sigmar Gabriel said Sunday.
“The negotiations with the U.S. have effectively failed because we must not capitulate to the American demands as Europeans,” said Gabriel, who is also Germany’s vice chancellor and heads the country’s Social Democratic Party. “Nothing is moving on the issue.” The Transatlantic Trade and Investment Partnership between the EU and the U.S. would create the world’s largest free trade area but has been plagued by criticism on both sides of the Atlantic.
TTIP negotiations have been ongoing for three years, with both sides aiming to reach a rough agreement before President Barack Obama leaves office in January and France and Germany prepare for elections in 2017.
The EU has negotiated a separate trade deal with Canada that officials hope to sign in October. National parliaments across the EU will be able to vet the deal, known as CETA, which could delay its implementation.
Gabriel defended CETA, but complained that discussions had been difficult because CETA and TTIP had sometimes been lumped together.
Gabriel was interviewed by German public broadcaster ZDF.