Article Image

IPFS News Link • Germany

German Economy Minister: "TTIP Talks Have Failed"

• https://www.technocracy.news, By: ZeroHedge

In the latest blow for Obama's global trade agenda, German Vice Chancellor and Economy Minister Sigmar Gabriel said that free trade talks between the European Union and the United States have failed, citing a lack of progress on any of the major sections of the long-running negotiations.

"In my opinion the negotiations with the United States have de facto failed, even though nobody is really admitting it" ZDF quoted the minister, according to a written transcript of the interview to be aired on Sunday. "[They] have failed because we Europeans did not want to subject ourselves to American demands."

He added that in 14 rounds of talks, the two sides haven't agreed on a single common itemout of 27 chapters being discussed. Among the stumbling blocks is a US objection to opening public tenders to European companies. "For me, that goes against free trade," Gabriel previously commented regarding the issue.

But more than just disagreement on general principles, Gabriel singled out the US as the party making strong demands with no concessions: "We mustn't submit to the American proposals," said Gabriel, who is also the head of Germany's center-left Social Democratic Party.