Germany’s economy minister criticises U.S. tariff policy
Outgoing German Economy Minister Robert Habeck criticised U.S. President Donald Trump’s tariff policy on Monday, calling the idea behind it “fundamentally wrong”.
Mr Habeck argued that the assumption that trade surpluses or deficits were problematic is “wrong” as he arrived at an emergency meeting of European Union trade ministers in Luxembourg.
Starting Wednesday, imports from EU countries to the U.S. will face new tariffs of 20 per cent.
“In the end, globalisation serves all economies,” Mr Habeck said, noting that the U.S. economy has outpaced European economies in growth over the last 20 years.
He urged his EU counterparts to act collectively rather than seek individual advantages while warning against hasty reactions, stating that the EU has no immediate pressure to respond to the latest round of tariff announcements.
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