Germany warns U.S. against setting bad precedent with tariffs
FILE PHOTO: Economy Minister Brigitte Zypries attends the weekly cabinet meeting at the Chancellery in Berlin, Germany July 19, 2017. REUTERS/Axel Schmidt
BERLIN (Reuters) - German Economy Minister Brigitte Zypries expressed in a letter to her U.S. counterpart the fear that other countries could follow the United States in giving national security as a reason for introducing trade restrictions.
In the letter, made available by Germany's RND group of newspapers, Zypries told Commerce Secretary Wilbur Ross that she had "serious concerns" about the United States' "unilateral" approach to trade policy, following President Donald Trump's announcement of imminent tariffs on steel and aluminium.
"The 'national security' argument could set a precedent," she said in the letter. "The fear is that a series of other countries could use the national security argument to shut off their markets. That would risk undermining global trade rules thrashed out laboriously over decades."
(Reporting by Thomas Escritt; Editing by Paul Carrel)
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Japan core inflation seen below BOJ target for fourth month in May: Reuters poll
- South Korea concrete delivery halt threatens Samsung, SK Hynix chip plant work, media reports
- Dollar steadies on ceasefire prospects, PPI eases pressure on Fed
Create E-mail Alert Related Categories
ReutersRelated Entities
Donald J. Trump, Wilbur RossSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!



Tweet
Share