TTIP negotiations between EU and US have failed: German Minister

Berlin, Aug 28: Talks between the EU and the US on the Trans-Atlantic Trade and Investment Partnership (TTIP) have essentially failed, German Vice Chancellor and Economy Minister Sigmar Gabriel has said. “In my opinion the negotiations with the US have de facto failed, even though nobody is really admitting it,” the Minister told ZDF broadcaster, according to a written transcript of the interview. “[They] have failed because we Europeans did not want to subject ourselves to American demands.” He noted that throughout 14 rounds of talks, the two sides have not been able to find common ground on a single chapter of the deal 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. Washington has been insisting that the free trade deal be signed before the end of 2016, but it has encountered strong opposition from a number of European tions, not only Germany. Critics claim that TTIP is dangerous as it could place the interest of intertiol corporations above those of the tions they operate in, and undermine European standards for labour and environmental protections. (IANS)