Germany’s finance minister has called for a renewed push on securing a trade deal between the European Union and the United States in light of the invasion of Ukraine.

Christian Lindner has said the EU should revive talks over a free trade agreement between the two sides after President Trump ended discussions over the creation of a Transatlantic Trade and Investment Partnership (TTIP) in 2016.

Mr Lindner told German newspaper Handelsblatt: “We should resume negotiation on a transatlantic free trade agreement. Especially now in the [Ukraine] crisis, it is becoming clear how important free trade is with partners around the world who share our values.”

Mr Lindner’s intervention comes as US President Joe Biden prepares to travel to a summit with Nato leaders in Brussels later this month. European leaders will meet with Mr Biden to discuss the war in Ukraine. Leaders will discuss security and defence matters, as well as how to provide assistance to the refugees fleeing Ukraine.

The US and the EU, which together account for nearly half of global GDP and almost a third of world trade, launched negotiations on the TTIP at the G8 summit in 2013. Discussions ended shortly after Donald Trump was elected in 2016, however, before the former president subsequently launched a trade war with the EU.

In 2018, he enforced tariffs on EU aluminium and steel on the grounds of national security, and threatened to hit car exports with a 20pc tariff.

Speaking at the time, Mr Trump said the EU was “set up to take advantage” of the US. The EU responded by placing tariffs on a range of products including orange juice, and vodka.

Both have since agreed to end the trade dispute in October 2021, with European President Ursual von der Leyen describing it as an “important milestone” in international relations.

She said: “Defusing yet another source of tension in the transatlantic trade partnership will help industries on both sides. This is an important milestone for our renewed, forward-looking agenda with the US.” The US has since axed duties on EU steel.

Britain was left out of the agreement, due to Brexit.

Last week the UK and the US announced plans to reboot efforts over securing a free trade deal. International Trade Secretary Anne-Marie Trevelyan and her US counterpart Katherine Tai will meet this week in Baltimore, and later in the Spring to hash out plans for more bilateral trade and investment. Previous rounds of negotiations have been hampered by fears over food safety standards. 

Boris Johnson was criticised by Tory backbenchers in 2020 for ditching a pledge to keep chlorinated chicken out of British supermarkets, while British farmers have also expressed concerns that a US trade deal would trigger intense competition in the sector. Britain has so far signed trade agreements with Australia, Canada, Israel and Singapore and others but the US deal is seen as the biggest prize post-Brexit. The Government also recently kick-started trade negotiations with India.