German Chancellor Angela Merkel will meet with her coalition partners today to discuss a response to the United States’ recent
German Chancellor Angela Merkel will meet with her coalition partners today to discuss a response to the United States’ recent decision to impose metal import tariffs on the European Union.
The Trump administration’s decision to impose steel and aluminium tariffs has been denounced by the G7 ahead of a summit on Friday, with all members minus the US jointly expressing “unanimous concern and disappointment” about the move.
Germany employs the largest number of people in steel manufacturing in Europe—some 85,000 workers out of about 300,000 total jobs in the EU come from the German industry. With its two largest source of exports being machinery and vehicles, Germany will be adversely impacted by the tariffs.
Keep an eye on how German leadership defensively responds to the tariffs. Specifically, note to what extent Berlin comes out in favour of retaliatory tariffs against the US, its historic diplomatic and economic partner. Strong favour on the part of the EU’s largest economy for retaliatory tariffs could seriously escalate the prospects of a trade war.
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