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Obama Joins Angela Merkel in Pushing Trade Deal to a Wary Germany
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Protests in Hannover, Germany, as U.S. president Obama visits the Hannover Trade Fair. Protesters oppose the Trans-Atlantic Trade and Investment Treaty promoted by president Obama. A recent Bertelsmann Stiftung research institute poll shows larger rejection of the treaty in Germany than a mid-Feb. poll by German broadcaster ZDF showing about half of Germans opposed. Interviews with a dozen protesters show suspicion about large corporate interests, and fears that the talks are secretive, a sense that the interests of ordinary people would be neglected. Elections in the U.S. in 2016 have shown a surge in sentiment opposing trade agreements.
Negotiations for a Transatlantic EU-U.S. Trade Agreement 2013-2014
02/14/2013
Further progress in reducing tariffs could increase transatlantic trade by an estimated $120 billion over 5 years from the current figure of $1 trillion, according to the U.S. Chamber of Commerce. U.S. president Obama announced support for negotiations in Feb 2013.
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As U.S. president Obama pushed for the treaty during his visit to the Hannover Fair, German newspapers say the treaty is even more unpopular now than when polls showed that about half of Germans opposed the treaty. Protesters in Hannover say they oppose the treaty because it benefits big business at the expense of working people. Hillary Clinton, Donald Trump and Ted Cruz oppose the trade treaties. Experts say most of the benefits from trade have already been gained, and the priorities have shifted to infrastructure, wages and the working class in the U.S. and in Europe, as some sections of society have lagged behind.
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