Angela Merkel 'not happy' TPP trade deal could be scrapped

German Chancellor Angela Merkel says she's not happy about the possible demise of the Trans-Pacific Partnership trade pact, which President-elect Donald Trump wants to pull out of.

Merkel didn't directly mention Trump in a speech to the German Parliament Wednesday in which she called for nations to take a multilateral approach to solving global problems.

Merkel said: "I will tell you honestly: I am not happy that the trans-Pacific agreement now will probably not become reality. I don't know who will benefit from that."

She added: "I know only one thing: there will be other trade agreements, and they won't have the standards that this agreement and the hoped-for TTIP agreement have."

She was referring to the planned Trans-Atlantic Trade and Investment Partnership between the U.S. and the European Union.

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