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FX.co ★ Merkel pushes EU-US free trade deal talks

Merkel pushes EU-US free trade deal talks

Merkel pushes EU-US free trade deal talks

Experts note that despite the failure of negotiations on a free trade agreement between the EU and the United States, German Chancellor Angela Merkel intends to resume the talks.

Merkel stressed that the Transatlantic Trade and Investment Partnership (TTIP) is a crucial project that could cover about 30% of global trade. It will help to establish standards for an open and fair exchange of goods, she said.

According to Chancellor Angela Merkel, the free trade deal is advantageous for Germany. However, the German economy is under pressure of the growing protectionism. Only with the help of open markets and free trade Germany could improve its social and economic condition, Merkel said.

At the moment, the German exports to the US decreased significantly. According to Der Spiegel, German companies prefer to sell their goods to European countries.
According to the Federal Statistical Office of Germany, the country’s exports to the EU totaled 707.7 billion euros, up 2.2% from a year earlier.

German trade relations with Russia also begin to strengthen. According to the German-Russian Foreign Trade Chamber, the volume of trade between the countries increased by 37% to 9.5 billion euros during the first months of 2017.

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