German minister confident of 'sensible' US trade compromise

FILE - In this Wednesday, March 21, 2018 file photo, German Economy Minister Peter Altmaier arrives for the first regular weekly cabinet meeting of Germany's new government at the chancellery in Berlin. Germany’s economy minister says he is confident that Europe and the United States can reach a “sensible compromise” by summer to resolve tensions over trade. German weekly Der Spiegel on Saturday, March 31, 2018 quoted Altmaier as saying that the EU and U.S. want to act together to counter the overcapacity in the global steel market that originated in China. (AP Photo/Markus Schreiber, File)

BERLIN — Germany's economy minister says he is confident that Europe and the United States can reach a "sensible compromise" by summer to resolve tensions over trade.

President Donald Trump's administration has granted the European Union an exemption from punitive tariffs on steel and aluminum imports, but only until May 1. Several European leaders have criticized the little time that leaves for talks.

German weekly Der Spiegel on Saturday quoted Economy Minister Peter Altmaier as saying that the EU and U.S. want to act together to counter the overcapacity in the global steel market that originated in China.

Altmaier says they are seeking agreement on how to combat dumping prices and the theft of intellectual property.

He said: "We want to find solutions that are compatible with international trade rules."

Must Read

US president helps fuel surge in Mexican tourism...

Mar 14, 2017

Canada has seen a surge of visitors from Mexico since December when it lifted a visa requirement, a...

Trudeau declines to meet Trump because of US...

Jun 1, 2018

Canadian Prime Minister Justin Trudeau says he offered to go Washington this week to complete talks...

The Latest: Trump tweeting about G-7 before Kim...

Jun 11, 2018

President Donald Trump is taking more swipes at Canada and its prime minister over trade issues as...

Canada announces billions in retaliatory tariffs...

Jun 30, 2018

Canada is announcing billions of dollars in retaliatory tariffs against the U.S. in response to the...

Canada tariffs on US goods from ketchup to lawn...

Jul 1, 2018

Canada retaliates against Trump's steel tariffs by taxing U.S. imports from ketchup to lawn mowers

About Us

Banking Reporter is the largest-circulated online business news in the United States, bringing a whole new genre of business journalism more up close and more incisive.

Contact us: sales[at]bankingreporter.com

Subscribe Now!