EU-US Trade Deal 'Will Fail' If US Refuses Concessions: German Minister
TEHRAN (Tasnim) – Negotiations on a US-EU free trade deal "will fail" if the US refuses to make concessions, German Economy Minister Sigmar Gabriel warned Sunday ahead of a visit by US President Barack Obama.
"The Americans want to hold fast to their 'Buy American' idea. We can't accept that. They don't want to open their public tenders to European companies. For me, that goes against free trade," Gabriel, who is also Germany's deputy chancellor, told business newspaper Handelsblatt.
"If the Americans hold fast to this position, we don't need the free trade treaty. And TTIP will fail," he said, referring to the treaty by its acronym, according to AFP.
The United States is Germany's biggest trading partner. Advocates of the trade deal say it would unleash further growth while critics warn it could undermine consumer rights and environmental protection.
