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Leadership

Why Germany’s Economy Minister Says U.S.-EU Free Trade Talks Have Failed

By
Reuters
Reuters
and
Michelle Toh
Michelle Toh
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By
Reuters
Reuters
and
Michelle Toh
Michelle Toh
Down Arrow Button Icon
August 28, 2016, 11:06 PM ET
Sigmar Gabriel Visits North Rhine-Westphalia
GERMANY - AUGUST 15: German Vice Chancellor and Economy and Energy Minister Sigmar Gabriel, who is also party chairman of the German Social Democrats (SPD), tours the J.D. Neuhaus produces pneumatically and hydraulically-operated hoists and crane systems on August 15, 2016 in Witten, Germany. Gabriel is visiting a variety of companies, projects and meeting with citizens in North Rhine-Westphalia as part of his annual summer tour. Germany faces federal elections in 2017. (Photo by Sascha Schuermann/Getty Images) Sascha Schuermann/Getty Images

Germany‘s Economy Minister Sigmar Gabriel said on Sunday that talks on the Transatlantic Trade and Investment Partnership (TTIP), a free trade deal being negotiated by the United States and the European Union, had essentially failed.

“The negotiations with the USA have de facto failed because we Europeans did not want to subject ourselves to American demands,” he said, according to a written transcript from German broadcaster ZDF of an interview due to be broadcast on Sunday.

“Things are not moving on that front,” said Gabriel, who is also Germany‘s vice chancellor.

For more on leadership and trade, watch Fortune’s video:

The U.S. and the EU have been negotiating the TTIP for three years and both sides had sought to conclude talks in 2016 but they have differences over various issues, including agriculture.

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