German FinMin Says US-EU Trade Dispute Escalation Must be Avoided

The global economy is slowing and political leaders must avoid any escalation in trade disputes, German Finance Minister Olaf Scholz told Reuters in an interview on Wednesday.

U.S. President Donald Trump’s threat this week to impose tariffs on $11 billion worth of European Union products, including commercial aircraft, has deepened a long-running trans-Atlantic subsidy dispute and opened a new front in his global trade war.

“All parties must do their part to avoid an escalation of trade disputes,” Scholz said when asked to comment on the U.S. threat to impose additional tariffs.

Speaking ahead of meetings of the International Monetary Fund (IMF) and World Bank in Washington later this week, Scholz said that the global economy was losing steam, but that there was still growth in Europe and Germany.

via Reuters

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza