Angela Merkel “not happy” about demise of the Trans-Pacific Partnership (TPP)
German Chancellor Angela Merkel has today said she's "not happy" about the possible scrapping of the Trans-Pacific Partnership (TPP).
Her comments come shortly after President-elect Donald Trump announced he would be pulling the US' involvement from the trade deal on his first day in office.
"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," Merkel told German parliament, according to the Associated Press.
Merkel continued: "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 [Transatlantic Trade and Investment Partnership] agreement have."
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Germany is not one of the 12 countries which has signed up to TPP, but signatories do include Japan, Vietnam, Australia, Mexico and Canada.
However, as an EU member state, Germany would be party to TTIP. Doubt has already been cast on the future of this trade deal – despite having gone through multiple rounds of negotiations, the parties involved seem no closer to reaching an agreement.