Sunday, November 20, 2016

Humiliation for Merkel as she admits ‘US-Europe trade deal is DEAD’ under Trump

FLOUNDERING German Chancellor Angela Merkel has admitted the US-Europe trade deal she staunchly backed is no longer possible.The German leader made the admission while meeting outgoing US President Barack Obama at the chancellery in Berlin on November 18 while the US leader was on his farewell tour of Europe. Ms Merkel admitted her plans for the trade zone do not stand a chance against President-elect Donald Trump, who has been vocal about his opposition to the proposal.Trump has promised to do away with international trade deals once he is in power as he believes they take jobs away from American workers and hurt the economy. Ms Merkel said: “The EU and the US are the two largest trading regions and I have always been very committed to the conclusion of a trade agreement with the USA."We have done well, the negotiations cannot be finished now, but we will stick to what we have achieved. I`m sure we'll come back to it someday." Obama, who recently claimed Ms Merkel has been his "closest ally" added: “I don’t expect that the president-elect will follow exactly our blueprint or our approach." The US-Europe trade deal, also known as the Transatlantic Trade and Investment Partnership, was tabled three years ago by the leaders.The controversial deal would create the world's biggest free trade zone with 850million consumers. But opponents claim it would benefit big businesses by reducing regulatory barriers, including food safety law, environmental legislation, banking regulations and the sovereign powers of individual nations.It is also believed it could give way to corporations suing governments for policies that impact negatively on their revenue.John Hilary, Executive Director of campaign group War on Want, described the deal as “an assault on European and US societies by transnational corporations”. Ms Merkel's admission comes after her Christian Democratic Union party loses support in Germany due to her controversial open door immigration policies.
 http://www.express.co.uk/news/world/734482/merkel-us-europe-trade-deal-zone-obama-trump

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