The Transatlantic Trade and Investment Partnership (TTIP) is unlikely to be implemented in the near future. The EU negotiators are frustrated about the potential deal, as the stances of European countries and the US have little in common, German newspaper Deutsche Wirtschafts Nachrichten (DWN) wrote.

Referring to the website EUobserver, the newspaper noted that EU negotiators have become frustrated about the deal and don't believe in the success of the TTIP anymore.

The main problem is fundamentally different visions of the US and the EU about the nature of the agreement.

"The US is pressuring the EU to roll back environmental and health standards as part of a free trade deal," the website wrote. "The US also wants to keep the current arbitration system that allows corporations to sue governments for perceived loss of profits."

According to DWN, the US is playing hard, makes "unacceptable" demands and contributes to growing "frustration among Member States".

This becomes a problem especially in the context of the still undecided CETA issue. The negotiations on the Comprehensive Economic and Trade Agreement between the EU and Canada were concluded in 2014, but there are still disputes over whether the agreement has to be approved by all EU members or not.

"In order not to endanger the CETA as well, all sides are now trying obviously to calm things down," DWN wrote.

Both the TTIP and CETA have sparked controversy and concern in the European Union due to the secrecy surrounding the negotiations and the power they could give to international corporations at the expense of small and medium-sized businesses. However, CETA is considered a much more EU-friendly deal than the TTIP.

"The EU-Canada deal is a model of what the Europeans would like with the US. In reality, the EU-US talks are very far from achieving such an agreement," EUobserver concluded.