German Chancellor Angela Merkel has admitted the proposed Transatlantic Trade and Investment Partnership deal between the European Union and United States will not be concluded.

Ms Merkel said the TTIP deal would be sidelined after the election of Donald Trump, who opposes the planned accord, as the next US President.

"I have always been strongly engaged for a conclusion of a trade deal with the United States. We have made a lot of progress on the negotiations, but it will not be concluded now," she said, following talks with outgoing US President Barack Obama, who is on his farewell tour of Europe.

"I am sure that one day we can come back to it," she added.

The EU and US had sought to get the TTIP deal through by the time Mr Obama left office, but have fallen short.

Under negotiation since 2013, the trade accord was meant to have been one of the most ambitious free trade accords ever signed, creating the world's biggest free trade market of 850 million people.

But it had ran into increasing popular opposition in Europe, where voters have grown increasingly sceptical of the benefits of globalisation.

Ms Merkel acknowledged that "globalisation ... needs to be given a human face" but she stressed that the world must not fall back  into pre-globalisation times.