German Chancellor Olaf Scholz warned on Sunday of the effects of US punitive tariffs on world trade.
“The global exchange of goods and commodities has proven to be a great success story that has enabled prosperity for all of us,” he told journalists at a meeting with UK Prime Minister Keir Starmer at his Chequers country residence outside London.
“That is why it is important that we do not divide the world with many customs barriers, but that we make this exchange of goods and services possible in future as well.”
US President Donald Trump had earlier announced punitive tariffs on goods from China, Canada and Mexico. He has also threatened the European Union with such measures due to the trade surplus of countries like Germany.
When asked about possible European countermeasures, Scholz said that the EU is a strong economic area and has “its own options for action.” However based on this strength, the EU wants to continue economic relations with the United States, he added.