US Committed to Completing TTIP Negotiations by End of the Year

The United States hopes negotiations over the Trans-Atlantic Trade and Investment Partnership (TTIP) will be completed before the end of 2016, White House spokesperson Josh Earnest said at a press briefing on Monday.

WASHINGTON (Sputnik) — On Sunday German Vice Chancellor and Economy Minister Sigmar Gabriel told ZDF broadcaster that the negotiations had failed because European countries are concerned about certain American demands that would violate environmental legislation, banking procedures and investment rights.

"The president has set a rather ambitious goal of trying to complete those negotiations by the end of the year and that certainly is what his team is working to do," Earnest stated.

The US government started discussions over the free trade zone with the European Union in 2013. The details of the TTIP deal, including specific rules of market access have not been released to the public.

Other countries involved in the TTIP include Canada, Mexico, Switzerland, Liechtenstein, Norway and Iceland.