In the same category

US-EU Trade Talks “De Facto Dead”

IMG Auteur
Published : September 24th, 2016
361 words - Reading time : 0 - 1 minutes
( 1 vote, 5/5 )
Print article
  Article Comments Comment this article Rating All Articles  
[titre article pour referencement]
0
Send
0
comment
Our Newsletter...
Category : Editorials

President Obama was hoping to get two trade agreements in the waning days of his administration.

However, this week the German Economy Minister stated the US-EU TTIP  talks were “de facto dead”. The US-Asia TPP talks have been dead as a doornob for some time.

Both deals were allegedly about free trade. In fact, neither was.

Nonetheless, that both deals died after years of negotiation is systematic of a bigger problem: rising protectionism everywhere, led by the US and EU.

ttip-cancelled

Please consider Austria, France to Propose Restarting EU-U.S. Trade Talks Under New Name.

Austria and France will on Friday propose ending the current round of trade talks between the United States and the European Union, and starting fresh talks under a new name, Austrian Economy Minister Reinhold Mitterlehner said.

“The free trade talks with the USA should begin again under a new title and with different substantive headings,” including greater transparency, Mitterlehner told Germany’s Die Welt newspaper.

He said he and French Trade Minister Matthias Fekl would push for a new start to the WTO’s Transatlantic Trade and Investment Partnership (TTIP) at a meeting of EU trade ministers in the Slovakian capital Bratislava.

He said the talks should resume after the U.S. presidential election on Nov. 8.

Fekl last month said he would request a halt to TTIP talks at the ministerial meeting after German Economy Minister Sigmar Gabriel declared that they were “de facto dead”.

The French minister told the Handeslblatt newspaper that the United States had demanded too much and not compromised enough.

“A crazy machine is moving here, the negotiations are a failure, nobody believes that they will come to a successful conclusion,” he was quoted as saying.

New Name Needed

Since a new name is needed, I invite readers to suggest some. I am drawing a blank. But I have to warn, manure by any other name still stinks.

A sweet trade agreement would fit on a napkin: “Effective immediately, we abolish all tariffs and subsidies.” Anything else is not free trade.

I would settle in a heartbeat for “Effective immediately, we abolish all tariffs”, whether or not any other country did the same.

Mike “Mish” Shedlock.

 

Source : mishtalk.com
Data and Statistics for these countries : Austria | France | Germany | All
Gold and Silver Prices for these countries : Austria | France | Germany | All
<< Previous article
Rate : Average note :5 (1 vote)
>> Next article
IMG Auteur
Mish 13 abonnés
Mike Shedlock / Mish is a registered investment advisor representative for SitkaPacific Capital Management. He writes a global economics blog which has commentary 5-7 times a week. He also writes for the Daily Reckoning, Whiskey & Gunpowder, and has over 80 magazine and book cover credits. Visit http://www.sitkapacific.com
WebsiteSubscribe to his services
Comments closed
Latest comment posted for this article
Be the first to comment
Add your comment
Top articles
World PM Newsflow
ALL
GOLD
SILVER
PGM & DIAMONDS
OIL & GAS
OTHER METALS
Take advantage of rising gold stocks
  • Subscribe to our weekly mining market briefing.
  • Receive our research reports on junior mining companies
    with the strongest potential
  • Free service, your email is safe
  • Limited offer, register now !
Go to website.