TTIP Neither Alive Nor Dead, EU Ready to Continue Discussions With US

WASHINGTON (Sputnik) — The Transatlantic Trade and Investment Partnership (TTIP) negotiations were paused at the end of the administration of former President Barack Obama, but the European Union is ready to resume discussions with the administration of US President Donald Trump, EU Ambassador to the United States David O'Sullivan said on Tuesday.

"TTIP is neither alive nor dead," O'Sullivan stated in a speech at the International Institute for Strategic Studies event in Washington, DC. "It’s paused for the moment."

O'Sullivan noted that while the European Union is ready to continue discussions on the matter if the Trump administration is interested, at the moment there is no one to talk with.

The European Union is waiting for the right administration officials to be put in place so it can learn what the administration wants to do about the negotiations, O’Sullivan added.

TTIP negotiations, which have been ongoing since 2013, seek to establish a free trade zone between the two sides of the Atlantic. Since the start of the talks, the deal has drawn severe criticism for the lack of transparency and concern over the tremendous power it would potentially give to international corporations.

On January 23, Trump signed an executive order withdrawing the United States from the Trans-Pacific Partnership (TPP) free trade agreement and promised to renegotiate the North American Free Trade Agreement (NAFTA). The Trump administration is expected to at least delay talks on the TTIP deal, according to media reports.