Trump Draws First Blood, Angers Germany

By Ikenga Chronicles November 23, 2016

Trump Draws First Blood, Angers Germany

Donald Trump has drawn the first blood against one of the superpowers by planning to ditch the Trans-Pacific Trade deal.

This has not gone down well with the German Chancellor, Angela Merkel who on Wednesday criticized such, and warned about future agreements by both countries.

This disagreement has also put question marks on US-EU mega deal called the TTIP, and Merkel did not conceal her displeasure by stating that “there will be more trade agreements, and they won’t have the standard which this agreement and the mooted TTIP have”.

She continued; “I tell you quite honestly, I am not happy that the trans-Pacific agreement will now probably not become a reality.”

“I don’t know who will benefit from that, and today I want to refrain from making any predictions.”

The Transatlantic Trade and Investment Partnership (TTIP) is a proposed trade agreement between the EU and the US with the aim of promoting trade and multilateral economic growth. The TTIP, according to the US government, is a companion agreement to the TPP. The agreement is undergoing negotiations with its main three broad areas
being: market access; specific regulation; and broader rules and principles and modes of co-operation.

The EU says that the TTIP would boost the EU’s economy by €120 billion, the US economy by €90 billion and the rest of the world by €100 billion. TTIP aims to “liberalise one-third of global trade” and could create millions of new jobs.

But Trump has emphatically stated that he would not ratify the TPP, thereby dealing the death knell to the TTIP.

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