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Independent.ie

Saturday 10 December 2016

Trump election prompts rethink of trade policy

Sarah Collins

Published 17/11/2016 | 11:00

Former New York mayor Rudy Giuliani smiles as he leaves Trump Tower (AP)
Former New York mayor Rudy Giuliani smiles as he leaves Trump Tower (AP)

The election of Donald Trump in the US and continuing troubles with an EU-Canada trade deal are prompting a fundamental rethink of the bloc’s trade policy.

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Mr Trump’s well-known opposition to large, regional trade deals has dampened EU negotiators’ spirits and effectively halted talks on the transatlantic trade and investment partnership (TTIP) with the US.

“I am by nature an optimist, but I think we should be realistic - I don’t think we see the resumption of any TTIP negotiations in quite a long time,” said EU trade chief Cecilia Malmström. “For quite some time TTIP will probably be in the freezer.”

Meanwhile, there is more trouble brewing over the EU-Canada deal, which was signed at a summit  last month.

The European Parliament is due to vote in December on whether the EU can apply the deal provisionally pending votes in national parliaments.

But Sinn Féin MEP Matt Carthy (pictured above) has said the Parliament should reject the deal unless there is more clarity about which sections will apply, and what effects the deal will have on the EU’s farmers.  

The EU is due to publish a key report on the cumulative effects of trade agreements on Europe’s agricultural sector on Tuesday.

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