EU trade deal with US ‘doomed’ as German minister reveals talks have collapsed


The controversial trade deal between the EU and the United States looked doomed yesterday after Germany said the talks had collapsed.

Germany Economy Minister Sigmar Gabriel said the negotiations on the Transatlantic Trade and Investment Partnership (TTIP) had essentially failed.

The US-EU deal is aimed at removing trade barriers between the world’s two biggest trading blocs

But opponents claim it will allow private American firms to bid for lucrative contracts in the health service, paving the way to privatisation.

Recent legal advice said TTIP posed a real and serious risk to the NHS .

Mr Sigmar said after 4 rounds of talks the EU and the US had not agreed on a single common chapter out of 27 being discussed.

In my opinion the negotiations with the United States have de facto failed, even though nobody is really admitting it, he said.

He added: The negotiations with the USA have…failed because we Europeans did not want to subject ourselves to American demands.

His comments were welcomed by Brexit supporters who believe it will pave the way for UK-US trade talks.

Barack Obama had warned Britain would be back of the queue for any new trade deal as TTIP was the priority.

However, others will interpret the looming collapse of TTIP as a warning of how hard it will be for Britain to strike a favourable deal with the US.

News Source MirrorNews

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