Berlin warns the US about punitive tariffs on steel

Berlin warns the US about punitive tariffs on steel
Minister of Economic Affairs, Brigitte Zypries, expresses "considerable concerns" about her American colleague Wilbur Ross because of the threat of Washington to introduce new import barriers on steel - which could also take products from Europe.
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The German Minister of Economic Affairs, Brigitte Zypries, has expressed concern about the US threat of import restrictions on steel, which could also hit German producers.

"We are concerned that the US is currently reviewing security measures against steel imports with a view to endangering national US security interests," she said before a conference with her colleagues from Germany's federal states.

"We have considerable reservations about such considerations, and I have already made this clear against US Secretary of Trade Wilbur Ross." The problem of steel overcapacities is the same for both European and US companies. Therefore, foreclosure steps "in any case would be the wrong answer".

"This is not in the interests of the US"
Zypries warned that such US restrictions were not in the interest of the American companies. "The issue must rather be placed on the right level and these are the G-20 states," she underlined. A common solution should be found there.

The subject of steel has also been occupied by the group of the most important industrialized and emerging countries, which will meet at the end of next week for their summit in Hamburg. Europeans and the USA have long challenged the Chinese steel industry in particular to alleviate their problems with high overcapacity by pushing steel products at dumping prices onto their markets.

"The steel industry has a special importance for the German value chain as a basic industry," Zyries emphasized. It contributes decisively to the successes of the German automotive industry and mechanical engineering.

To this announcement of US-slayer Ross goes it
US Trade Minister Wilbur Ross announced on Tuesday in a videotape for an event of the CDU Economic Council that the US wanted to proceed hard against "dumping imports". The country is "the largest victim of illegal practices". He will present President Donald Trump's recommendations for the protection of the US steel and aluminum industry.

At the meeting of the ministers of economics in Saarland, strongly influenced by the steel industry, IG Metall trade unionists also wanted to demonstrate against punitive tariffs and for easing emissions trading on Friday. Other topics are internet and cybersecurity. (Dpa / Reuters / apa / red) china, europe, finance (industry), planning, retirement, ogden, personal, taxes, credit card, small, interest, bankruptcy, rates, sandy, cheap, cost, term, sales, bad, health, budget, lake city, uss utah (bb-31), card, financial, business, bank, pay, provo, cash, low, insurance, utah, city, credit (finance), lake, salt, escape, credit, all