Make Kitco Your Homepage

Germany doesn't want confrontational tariff battle with U.S.: finance minister

Kitco News

LONDON (Reuters) - Germany doesn’t want to get embroiled in a trade war with the United States, the country’s Finance Minister Olaf Scholz said on Friday.

“I think increasing tariffs is not a good idea,” Scholz said at an event at Bloomberg, in response to speculation that the U.S. could apply tariffs to car imports from Europe in the coming weeks.

“I hope things like this could be avoided,” he added saying he also hoped the issue wouldn’t get confrontational.

“The best thing we can do for growth and wealth is rules-based free trade. I hope that we will have a better situation so that we can get again more global trade agreements.”

Reporting by Marc Jones; editing by Huw Jones

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.