Angela Merkel Welcomes US Offer to Resume TTIP Talks

Jul 01, 2017, 00:23
Angela Merkel Welcomes US Offer to Resume TTIP Talks

German investments in the USA provide jobs for Americans, Chancellor Angela Merkel said Tuesday in a push for a free trade agreement.

He did not specify what kind of measures President Donald Trump would take to tackle overcapacity in the steel sector, a major issue for an administration that says it wants to make United States trade ties fairer.

The chancellor's U-turn means that same-sex marriage could be approved in Germany as soon as this week, with a vote set to take place in parliament on Friday. US Trade Minister Wilbur Ross, who has canceled attendance at the forum, addressed video commentators, reiterating US willingness to protect themselves from the "dumping practices" the country is suspected of, in particular, steel and aluminum.

Merkel and others have tried to explain that Germany is part of the European Union and therefore can't trade individually with the US - it's the whole bloc, or no one.

The Trump administration who announced war on trade deficits now thinks that agreement would allow it to reduce the imbalance with the European Union, particularly with Germany, by opening more markets to USA companies.

"As your biggest customer, we hope to obtain a larger share of your market", Ross said. The Trump administration made a "conscious decision not to walk away from" the proposed Transatlantic Trade and Investment Partnership, Ross said.

"We, as major trading partners of each other, should have a free-trade agreement", he said.

The chancellor in her speech welcomed Ross' support for restarting talks on TTIP, a goal she and former President Barack Obama championed. If a vote takes place, it is expected to pass, as nearly all other political parties represented in the German parliament support gay marriage, and at least a quarter of Merkel's own party will likely also vote in favor. One of his first acts as president was to withdraw the USA from a similar free trade deal with the Asia-Pacific region.

Merkel plans to stand for a fourth term as Chancellor later this year.