France Rules Out Imminent EU-US Trade Deal, Wants Talks Halted

Rukhshan Mir (@rukhshanmir) Published August 30, 2016 | 04:45 PM

PARIS,(APP - UrduPoint / Pakistan Point News -30th Augst,2016) : France said Tuesday it wanted to halt thorny EU-US trade talks as President Francois Hollande said there would be no deal at least until after President Barack Obama leaves office in January. Junior trade minister Matthias Fekl said there was "no more political support in France" for the talks because US negotiators were offering "nothing or just crumbs". "France calls for an end to these negotiations," Fekl told RMC radio. Hollande, in a speech to France's diplomatic corps, chose his words more carefully but said it would be an "illusion" to say a deal was close. "The current discussions on the treaty between Europe and the United States will not lead to an agreement by the end of the year," he said.

"France would rather see things as they are and not harbour the illusion that an agreement will be struck before the end of the US president's term in office." The EU Commission and US negotiators began work on the Transatlantic Trade and Investment Partnership (TTIP) in 2013, aiming to create the world's largest free-trade area before Obama ends his term. But the talks have become bogged down amid widespread suspicion in the 28-nation EU that a deal would undercut the bloc's standards in key areas such as health and welfare. Fekl said Paris sees an imbalance in the negotiations in favour of the US side.