German Minister Offers Hope Of Detente On Trump Tariffs

Washington, (APP - UrduPoint / Pakistan Point News - 20th Mar, 2018 ) :A compromise could be reached as soon as this week between the European Union and United States over the tariffs President Donald Trump imposed on steel and aluminum, a German official said Monday.

Talks with US officials could make it "possible to find a solution that can still avoid a decline into a heavy trade conflict," German Economy Minister Peter Altmaier told reporters outside the White House.

The comments offered hope of a detente after weeks of increasing multinational trade frictions. US trading partners, industry groups, Republican lawmakers and markets have all been on tenterhooks amid fears of a global trade war since Trump this month suddenly announced steep duties of 25 percent on steel and 10 percent on aluminum, citing the need to protect US national security interests.

Altmaier offered no details about any possible solution but said US Commerce Secretary Wilbur Ross shared his optimism. "We had a very constructive preliminary exchange on all relevant matters in our economic relationships with an eye toward relaxing trade tensions," the officials said in a joint statement.

"We anticipate further discussions over the next few days." The announcement comes ahead of this week's planned visit to Washington by EU Trade Commissioner Cecilia Malmstroem, who likewise is due to meet Ross and other American officials Tuesday and Wednesday.