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Momentum for Trans-Atlantic Trade Deal Stalls

Pact could have streamlined safety standards, saving billions of dollars.

by on Aug.31, 2016

Daimler's Dieter Zetsche is one of many auto executives who were in favor of the now stalled trans Atlantic free trade partnership.

Global automakers appear to have suffered a political setback as discussion on a sweeping trade agreement between the United States and Europe appear to have stalled.

Sigmar Gabriel, German vice chancellor, said during an appearance in Berlin that talks on a trans Atlantic free-trade zone have run aground amid the rising political anxiety over trade on both sides of the Atlantic.

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In the U.S. both Hillary Clinton, the Democratic Presidential candidate, and Donald Trump, her Republican rival for the Presidency, have cast doubts on new trade agreement. Trump, in fact, has made the anti-free trade rhetoric central to his campaign. In Europe, the British vote to exit the European Union has served to exacerbate the political tension surrounding trade issues. (more…)