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Trump Trade War – EU seeks last-minute deal

European Union is seeking a last-minute deal with the US to avoid inflaming global trade tensions as President Donald Trump prepares to impose tariffs on steel and aluminium imports at the end of the month. German economy minister Mr Peter Altmaier said on Monday “We’re at the beginning of a decisive week. We have to try to avoid higher tariffs if possible and that means we’re ready to agree with the Americans on points that are necessary in our mutual interest.”

Mr Altmaier said “US commerce secretary Wilbur Ross and the EU’s trade chief Cecilia Malmstrom will meet this week at an Organisation for Economic Co-operation and Development event in Paris, where trade ministers will hold intensive talks before the waiver deadline. And even though the EU has said it won’t negotiate with the US until it has received an unconditional reprieve from the tariffs the bloc is willing to discuss trade in industrial goods and recognition of standards. We have to avoid a trade conflict because everyone suffers from it, the citizens in Europe just like the citizens in the US. Many jobs are also at stake.”

He added “We continue to engage with our US partners to avoid confrontation. We are free traders but we are not naive and we follow multilateral rules every step of the way.”
Source : BLOOMBERG
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