'US to Chart Path Forward on TTIP' Talks, Ready to Forge New Trade Deal With UK

WASHINGTON (Sputnik) — US House of Representatives Speaker Paul Ryan said during a speech in London, England on Wednesday the United States wants to resume Transatlantic Trade and Investment Partnership (TTIP) negotiations with the European Union.

"The United States will work closely with our EU friends and chart a path forward on TTIP negotiations," Ryan stated.

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, Donald 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.

"The United States stands ready to forge a new trade agreement with Great Britain as soon as possible so that we may further tap into the great potential between our two peoples," Ryan added.