French PM rejects TTIP as against ‘EU interests’
French Prime Minister Manuel Valls has blasted a potential trade deal between the European Union and the United States, known as the Transatlantic Trade and Investment Partnership (TTIP), saying it would run against the interests of the EU.
“No free trade agreement should be concluded if it does not respect EU interests. Europe should be firm,” Valls said Sunday, adding, “I can tell you frankly, there cannot be a transatlantic treaty agreement. This agreement is not on track.”
Officials from the EU and the US have been negotiating the terms of TTIP for the last three years. The planned pact seeks to remove regulatory and tariff barriers in a bid to create the world’s largest free-trade and investment area.
Opponent of the deal say it could have negative impacts on sectors like agriculture and environment. They have also criticized the secret nature of the talks held between the two sides, calling for more transparency over the negotiations.
The French PM said the TTIP, if concluded as expected by the end of year, would harm France’s economy, saying the planned deal could have “dramatic” consequences like putting an end to milk quotas which he said would badly affect the dairy industry in France.
Valls said the TTIP agreement “would impose a viewpoint which would not only be a breeding ground for populism, but also quite simply be a viewpoint that would be bad for our economy… France will be vigilant about this.”
Talks on the TTIP have been accelerated over the past months with the two sides aiming to finalize it before US President barrack Obama leaves office. A new round of negotiations is planned for July.
Britain, a major advocate of the deal, is now out of the EU following a historic referendum held in the country on Friday.
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