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| No EU-US trade deal this year - French president | |
| (about 1 hour later) | |
| There will be no deal this year between the EU and the US on the Trans-Atlantic Trade and Investment Partnership (TTIP), French President Francois Hollande has said. | |
| "The negotiations are bogged down, positions have not been respected, it's clearly unbalanced," Hollande said in a speech to French ambassadors. | |
| According to the French president, there will not be any agreement on TTIP “by the end of the year.” | |
| Earlier, Minister of State for Foreign Trade Matthias Fekl told French media that the current TTIP talks should be halted and new ones should begin. | |
| “There is no more political support in France for these negotiations,” and “France calls for an end to these negotiations,” Fekl told RMC radio. | “There is no more political support in France for these negotiations,” and “France calls for an end to these negotiations,” Fekl told RMC radio. |
| One of the problems of the deal lies in the US attitude towards the negotiations, he said. | One of the problems of the deal lies in the US attitude towards the negotiations, he said. |
| READ MORE: TTIP ‘doesn’t respect EU interests’: French PM Valls says ‘non’ to transatlantic treaty | READ MORE: TTIP ‘doesn’t respect EU interests’: French PM Valls says ‘non’ to transatlantic treaty |
| “The Americans give nothing or just crumbs… That is not how negotiations are done between allies,” Fekl said. “We need a clear and definitive halt to these negotiations in order to restart on a good foundation.” | “The Americans give nothing or just crumbs… That is not how negotiations are done between allies,” Fekl said. “We need a clear and definitive halt to these negotiations in order to restart on a good foundation.” |
| France “demands a halt to TAFTA [Transatlantic Free Trade Area] and TTIP [Transatlantic Trade and Investment Partnership],” he tweeted. | France “demands a halt to TAFTA [Transatlantic Free Trade Area] and TTIP [Transatlantic Trade and Investment Partnership],” he tweeted. |
| Fekl said that France will raise the case at a meeting of EU foreign trade ministers in Bratislava, Slovakia, in September. | Fekl said that France will raise the case at a meeting of EU foreign trade ministers in Bratislava, Slovakia, in September. |
| German Foreign Minister Frank-Walter Steinmeier added that US and EU still are “far away” and have work to do on the standards of the deal. | German Foreign Minister Frank-Walter Steinmeier added that US and EU still are “far away” and have work to do on the standards of the deal. |
| In the meantime, a spokesman for US Trade Representative Michael Froman told Der Spiegel newspaper that the talks “are in fact making steady progress.” | In the meantime, a spokesman for US Trade Representative Michael Froman told Der Spiegel newspaper that the talks “are in fact making steady progress.” |
| Fekl’s remarks come days after German Vice-Chancellor and Economy Minister Sigmar Gabriel said that the TTIP negotiations have essentially failed. | Fekl’s remarks come days after German Vice-Chancellor and Economy Minister Sigmar Gabriel said that the TTIP negotiations have essentially failed. |
| “In my opinion the negotiations with the United States have de facto failed, even though nobody is really admitting it,” the minister told ZDF broadcaster on Sunday. “[They] have failed because we Europeans did not want to subject ourselves to American demands.” | “In my opinion the negotiations with the United States have de facto failed, even though nobody is really admitting it,” the minister told ZDF broadcaster on Sunday. “[They] have failed because we Europeans did not want to subject ourselves to American demands.” |
| The deal still has backing in some quarters, however, with a number of EU officials speaking out in support of it. | |
| Italian Minister of Economic Development Carlo Calenda believes that the TTIP talks must continue. | |
| “TTIP will be sealed. It is inevitable," he said in an interview with Corriere della Sera newspaper. “We have to carry on. This accord is essential for Italy.” | |
| 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 nations. | 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 nations. |
| The TTIP is a EU-US free trade treaty project that was dubbed as controversial the moment it was proposed three years ago and has been criticized for its secretiveness and lack of accountability ever since. | The TTIP is a EU-US free trade treaty project that was dubbed as controversial the moment it was proposed three years ago and has been criticized for its secretiveness and lack of accountability ever since. |
| The proposed deal aims at promoting trade and multilateral economic growth by creating the world’s largest free-trade zone. Backers say it will help small businesses opening up markets and making customs processes easier, while trade tariffs on products would be reduced. | The proposed deal aims at promoting trade and multilateral economic growth by creating the world’s largest free-trade zone. Backers say it will help small businesses opening up markets and making customs processes easier, while trade tariffs on products would be reduced. |
| But critics of TTIP fear big corporations will be the only ones to profit from the deal, with corporate interest coming even ahead of national interest. | But critics of TTIP fear big corporations will be the only ones to profit from the deal, with corporate interest coming even ahead of national interest. |