German economy minister says talks have failed
European and the United States have reached an impasse in free trade talks according to Germany's economy minister.
"The negotiations with the USA have de facto failed because we Europeans did not want to subject ourselves to American demands," Sigmar Gabriel said, according to a written transcript from German broadcaster ZDF of an interview due to be broadcast Sunday.
The agreement was called the Transatlantic Trade and Investment Partnership. After three years of talks, there was hope that a deal could be wrapped up in 2016 but differences over agriculture and other problem areas have derailed talks.
Canada and the EU concluded a trade deal earlier this year and that was thought to be the test case for a North American deal.
But public dissatisfaction with free trade deals is growing and politicians are facing increasing scrutiny for concessions. In the big picture, the tide supporting free trade deals has turned.
