Germany sees no quick solution to trade dispute with US
Europe’s biggest exporter to the US says it remains open to talks ‘among friends’ after G-7 row
Berlin — Germany sees no immediate solution to the trade dispute between the US and other major economies but remains open to talks "among friends", Economy Minister Peter Altmaier said on Monday, seeking to head off a full-blown global trade war. US President Donald Trump backed out of a joint communique agreed by Group of Seven leaders in Canada at the weekend that mentioned the need for "free, fair and mutually beneficial trade" and the importance of fighting protectionism. Trump, who has imposed import tariffs on metals, is furious about the US’s large trade deficit with key allies. "Fair trade is now to be called fool trade if it is not reciprocal," he tweeted on Monday.
As Europe’s biggest exporter to the US and with more than 1-million German jobs at stake, Germany is desperate to avoid an EU trade war with the US. "I believe a win-win situation is still possible," Economy Minister Peter Altmaier, one of Chancellor Angela Merkel’s closest lieutenants, told broadcaster D...
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