Germany’s Altmaier: Higher tariffs end up hurting everyone

Germany’s Economy Minister Altmaier is reported by Reuters, as saying that Germany “won’t participate in speculation about US decision on car tariffs, timing on US decisions.

Key Quotes:

“We’re coordinating closely with the EU.

We need fewer tariffs, not more.

We want to negotiate an industrial tariffs agreement with the goal of reducing all tariffs in this sector to zero.

Commenting on China/US trade dispute, we are in favor of free trade.

Higher tariffs end up hurting everyone.”