Austria’s economy minister has said talks on an EU-US free trade agreement should be halted, adding his voice to an increasingly polarised debate on both sides of the Atlantic over whether to keep the negotiations going.
Washington and Brussels are officially committed to sealing the Transatlantic Trade and Investment Partnership (TTIP) before US President Barack Obama leaves office in January.
But chances of doing so are being eroded by approaching elections, fallout from Britain’s June vote to leave the European Union and a groundswell of critical opinion, notably in the EU’s biggest economies Germany and France.
“One should stop the negotiations now and start the entire process afresh,” Reinhold Mitterlehner, a member of Austria’s conservative junior coalition party who is also vice-Chancellor, told ORF radio on Wednesday (31 August).
US elections in November could be a starting point for a new attempt, he said. “Only the greatest optimists expect that [TTIP] can be completed this year,” Mitterlehner told the APA news agency.
French Trade Minister Matthias Fekl said on Tuesday (30 August) he would request a halt to the TTIP talks at an EU trade ministers’ meeting next month.
While the European Commission, Barack Obama and Angela Merkel all insist the transatlantic trade negotiations can be concluded by the end of the year, François Hollande has said he is ready to throw in the towel. EurActiv France reports.
At the weekend, German Economy Minister Sigmar Gabriel said the talks were “de facto dead”, though Chancellor Angela Merkel backs the talks and Italy’s trade and industry minister said it was essential they bore fruit.
Germany’s Vice Chancellor and Economy Minister, Sigmar Gabriel, said yesterday (28 August) that negotiations on the so-called Transatlantic Trade and Investment Partnership – or TTIP – between the EU and the US were effectively dead in the water.
The European Commission, which is handling the talks, has repeatedly insisted the “ball is still rolling” on the talks and that it would be prepared to ink the deal by the end of the year.
The European Commission today (29 August) insisted that it stood ready to finalise TTIP by the end of the year, after a leading German minister said the EU-US trade deal was dead in the water.
In Austria, public opposition is strong due to concerns the agreement might lower food safety standards and threaten European business.
A spokesman for Chancellor Christian Kern said there were still many open questions and he was quite sceptical about the TTIP negotiations. Kern is due to hold a press conference on TTIP on Friday.