BERLIN: Four German industry groups on Friday warned against a “spiral of protectionism” after US President Donald Trump’s imposition of tariffs on steel and aluminium, urging the government and the European Union to remain committed to free trade.
The DIHK trade group, BDA employers association, BDI industry group and German Confederation of Skilled Crafts (ZDH) also raised concerns about German domestic policy issues in a joint statement issued after a meeting in Munich.
“German industry is extremely concerned about the decision of the US government to impose far-reaching punitive tariffs,” the groups said in a joint statement. “To prevent a spiral of protectionism, Germany and the European Union must continue to stand up the global world trade system.”
The warning came as Germany’s steel association asked the EU to protect the local steel industry.
“With this decision, the USA has largely sealed itself off from the rest of the world,” Hans Juergen Kerkhoff, the association’s president, said in a statement, adding there was a risk that steel might now flood the European market.
“The European Union now needs to protect its local steel industry from the consequences of this protectionist US policy in a comprehensive and effective way.”
