Germany’s economy minister lashes out at US President Donald Trump, slamming his global trade rows and efforts to “dictate” Europe’s dealings with Iran through renewed US sanctions.
In an interview with German weekly Bild am Sonntag, Peter Altmaier warns of the damaging consequences of a full-blown US-China trade war, and expresses concern about Trump’s decision to slap hefty metals tariffs on Turkey in an escalating diplomatic row.
“This trade war is slowing down and destroying economic growth, and creates new uncertainties,” Altmaier says. “The past has shown that consumers suffer most in trade wars, because goods become more expensive.”
Trump has already slapped punitive tariffs on Chinese imports worth $34 billion and additional levies on $16 billion in Chinese goods will kick in later this month, with Beijing vowing to respond in kind.
Trump also announced on Friday that he would double tariffs on steel and aluminium from Turkey, pushing the lira to historic lows against the dollar.
— AFP
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