German Finance Minister Christian Lindner (FDP) has backed a new initiative in a free trade agreement between the European Union and the United States. “We need to restart negotiations on an Atlantic free trade agreement. Now, in a crisis, it shows how important free trade is with partners in the world who share our values,” Lindern told The Handlesplot. “We need to learn from the experiences of TTIP talks.”
In 2013, the European Union and the United States began negotiations on a so-called TTIP agreement aimed at facilitating trade across the Atlantic. Negotiations on the Transatlantic Trade and Investment Partnership were not successful in 2016. They have been suspended since 2017, following the inauguration of US President Donald Trump.
Target of TTIP
The purpose of the TTIP is to bring the two largest trading areas of the world closer together and at the same time reduce fees. Following the inauguration of Joe Biden by US President Donald Trump, members of the Black-Red Alliance led by former German Chancellor Angela Merkel have embarked on a new attempt at an Atlantic economic pact.
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