U.S. Commerce Secretary Wilbur Ross says the door is open to reviving the Trans-Atlantic Trade and Investment Partnership (TTIP) agreement negotiations with the European Union.
In an interview with the Financial Times, Ross cited the need to reduce the United States’ $146 billion E.U. trade deficit.
The move is considered a departure by the Trump administration, which has been pushing for bilateral deals with E.U. member countries.
Ross met Monday with E.U. Trade Commissioner Cecilia Malmström to discuss how to proceed.
U.S. government sources say talks will likely wait until after elections in Germany this fall. Ross says the first priority is renegotiating the North American Free Trade Agreement, which he expects to be completed by the middle of next year.
Source: brownfieldagnews.com