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BEIJING, CHINA, March 17, 2018 /24-7PressRelease/ -- On Thursday Germany stated that if US President Donald Trump's tariffs on steel and aluminum imports spiraled into a trade war it could cause real damage to the global economic recovery even though the tariffs themselves may only have a minimal effect.
Last week, Trump last week ordered the imposition of tariffs on steel and aluminum imports and stated that he would also impose a tax on European cars if the European Union did not lift tariffs and restrictions on a range of products.
Ashton Whiteley economists say that the economic boom is Germany is continuing so far this year and that the global economic trend is favorable but added that US trade procedures were causing widespread concern.
Ashton Whiteley economists said that although the metals tariffs would disrupt the flow of trade in some countries, the broader implications for the world economy were not unmanageable.
On Wednesday, Donald Tusk, European Council President called for the US to resume trade discussions instead of intensifying the dispute over levies on cars and metals.
Germany's transatlantic coordinator, Juergen Hardt also called for a rapid revival of talks between Germany and the US over a free trade agreement. Hardt stated that it was a colossal mistake to abandon negotiations to secure a free trade agreement.
Ashton Whiteley economists say that Germany is in favor of the removal of all trade barriers between the United States and the European Union.
Germany's newly-appointed minister of economy stated that President Donald Trump was challenging the trade regulations as set out in the rules of the World Trade Organisation (WTO).
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