/ world today news/ Negotiations on the free trade deal between the EU and the US will most likely be “frozen” for years as a result of Donald Trump’s stunning election victory, AFP reported, citing an EU statement today.
Brussels and Washington attempted to sign the Transatlantic Trade and Investment Partnership (TTIP) before the end of Barack Obama’s term, but failed. Whether that will ever happen is questionable for now, given Trump’s negative view of major trade deals and his still-unclear economic policy.
“TTIP will probably remain frozen for a while, but what happens after that and when it will be unfrozen, we will have to wait and see,” EU trade commissioner Cecilia Malmström said after a meeting of trade ministers from EU member states in Brussels .
TTIP has been under negotiation since 2013 and is considered one of the most ambitious free trade agreements ever created. It will create the largest free market in the world with over 850 million users stretching from Hawaii to Lithuania.
Brussels, Belgium
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