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Trump win puts EU trade in limbo

Friday, November 11, 2016 - 01:34

Donald Trump was likely top of the agenda for the latest EU trade ministers meeting in Brussels. As Ciara Lee reports, many observers now see TTIP as potentially one victim of his US presidential election victory.

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EU trade ministers gathering in uncertain times. As the reality of Donald Trump's presidential victory sinks in, ministers hint that international trade might not feature high up on his to-do list. Particularly that of the Transatlantic Trade and Investment Partnership or TTIP. (SOUNDBITE) (English) EU TRADE COMMISSIONER, CECILIA MALMSTROM, SAYING: "We don't really know what will happen. There is strong reason to believe that there would be a pause in TTIP, that this might not be the biggest priority for the US administration." The deal has been in the pipeline for three years with many hoping it would be completed under Obama's term. Trump has previously said international deals hurt American workers and the US competitiveness. (SOUNDBITE) (English) SENIOR MARKET ANALYST AT IG GROUP, CHRIS BEAUCHAMP, SAYING: "We've seen the problems the EU has with the Canada trade deal and now those problems are going to be magnified a thousandfold if not more. The U.S. is not going to be the partner it would have been under Hillary Clinton I think for a trade deal with the EU. So they'll have to look for something and obviously he has been invited to the EU for a summit meeting, whether he goes or not will also be a very interesting policy dynamic." Trump has also talked about getting tough with China, withdrawing from the unfinalised Trans-Pacific Partnership or TPP. And also scrapping the North American Free Trade Agreement. The new president will likely appoint a trade representative in March or April. And his choice could be key, with possible candidates ranging from the protectionist Dan DiMicco to libertarian PayPal founder Peter Thiel.

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Trump win puts EU trade in limbo

Friday, November 11, 2016 - 01:34