Germany Wants More Dialogue with US on Trade Ahead of Tariffs

April 30, 2018 Share Print 0

Germany on Monday dampened hopes that an exemption from U.S. tariffs on steel and aluminum could be extended for European Union countries, but called for trade negotiations to continue regardless of whether the levies are applied.

The United States imposed import tariffs of 25 percent on steel and 10 percent on aluminum in March, but it provided a temporary exemption until May 1 for the EU.

Peter Beyer, Germany’s transatlantic coordinator, said an extension of the exemption would be a success. “But we should not put too much hope in that,” he told the daily Rhein-Neckar Zeitung.

Neither Chancellor Angela Merkel nor French President Emmanuel Macron appeared to make significant progress convincing U.S. President Donald Trump to grant EU nations exemptions from the tariffs during meetings with him in Washington last week.

Via Reuters

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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.