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Merkel concerned for future of TPP after Trump video

By Ed Adamczyk
Merkel concerned for future of TPP after Trump video
German Chancellor Angela Merkel expressed her dissatisfaction with the future of global trade agreements to the German Parliament Wednesday after U.S. President-elect Donald Trump said he would withdraw the United States from the Trans-Pacific Partnership on his first day in office. File Photo by David Silpa/UPI | License Photo

BERLIN, Nov. 23 (UPI) -- German Chancellor Angela Merkel voiced concern for global trade agreements after a video in which U.S. President-elect Donald Trump said the United States would abandon the Trans-Pacific Partnership.

In a video posted Monday on YouTube, Trump outlined plans for his first 100 days in office; saying the United States will leave the trade deal, negotiated by the Obama administration, on the first day, calling it "a potential disaster for our country" to be replaced by "fair, bilateral trade deals that bring jobs and industry back onto American shores."

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Trump's opposition to the TPP was a central issue in his campaign for the presidency.

Merkel, speaking Wednesday to the German parliament, called on nations to take a multilateral approach to dealing with global problems. On the issue of the TPP, a trade deal signed by 12 countries representing 40 percent of the global economy, she said "I will tell you honestly: I am not happy that the trans-Pacific agreement now will probably not become reality. I don't know who will benefit from that."

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Then referring to the proposed Trans-Atlantic Trade and Investment Partnership between the United States and the European Union, she added, "I know only one thing: there will be other trade agreements, and they won't have the standards that this agreement and the hoped-for TTIP agreement have."

In her address, Merkel did not mention Trump by name.

""Globalization is happening. We can arrange it such that we strengthen multilateral instruments, or such that we seal ourselves off and become protectionist. This dispute over openness or sealing ourselves off will keep us very busy in the coming years," Merkel added in her speech to parliament.

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