Germany's acting Economics Minister advocates for talks with China after US tariff announcement
Robert Habeck, Germany's acting Economics Minister, has advocated for talks with China in the wake of the US announcement of new tariffs on imports, to avoid market disruption caused by falling commodity prices. Habeck said on April 7, before the meeting of EU member states' trade ministers, that "due to the high tariffs imposed by the US on Chinese goods far exceeding European levels, there is a risk that Chinese goods will be diverted to Europe or other markets. This will put us under significant deflationary pressure, meaning goods will become cheaper and more attractive to consumers."
He added that this situation could destroy parts of the industrial sector and even lead to the bankruptcy of European manufacturers.
Habeck emphasized: "Therefore, we in Europe and other countries should discuss how to avoid such a situation. Although China is a difficult partner to deal with, we should talk to them, as well as communicate with other countries. We should not deliberately damage our own markets, as ultimately it will harm everyone."
Source: https://www.toutiao.com/article/1828756061432835/
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