German minister wants tariffs dismantled worldwide, including with US
Berlin – Notwithstanding a tiff about steel and aluminium tariffs between the EU and the US, Germany’s economy minister said Tuesday he can imagine a world where trade duties go downwards, not just upwards.
“I have always expressed the hope that we could achieve a dismantling of customs barriers worldwide,” said Peter Altmaier, economy minister of the 28-member bloc’s largest economy. “That should also be possible with the US, in the context of a fair agreement.”
On Monday, the United States granted 30-day extensions on steel and aluminium tariff waivers for the EU, Canada and Mexico, while announcing that deals with Argentina, Australia and Brazil on steel and aluminium had been reached in principle.
The tariffs of 10 per cent on steel and 25 per cent on aluminium took effect on March 23 under a rarely used US law to regulate imports and exports on national security grounds. The one-month extension provides the EU with additional time for negotiations on trade duties, which it hopes to avoid.
The trade ministers of EU member states now need to reach an agreement among themselves, Altmaier said. “We will decide jointly if and when the situation calls for negotiations,” Altmaier said.
“I am staunchly convinced that we need a long-term arrangement in the interest of jobs in Germany, Europe and also in the US,” Altmaier said.
Source: dpa
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