German finance minister warns of trade war with China
Published: Friday, May 24th 2024, 12:30
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German Finance Minister Christian Lindner has warned against a trade war in the debate on punitive tariffs for Chinese products. The FDP politician said on Friday at the meeting of the G7 finance ministers in northern Italy that it must be examined objectively and very carefully whether there is Chinese dumping.
Unfair practices must be reacted to - ideally via the World Trade Organization, but if necessary also via coordinated joint measures. However, free and fair global trade as a whole should not be weakened in the process. "Because trade wars only have losers. You can't win them," emphasized Lindner.
Last week, the USA imposed special tariffs of 100 percent on electric car imports and other products from China. The United States accuses Beijing of distorting competition through substantial state subsidies.
The EU is also currently investigating the extent to which China is distorting the market for e-cars. A decision as to whether it will impose punitive tariffs is still pending. The Chinese Chamber of Commerce in Brussels recently warned of possible countermeasures by Beijing that could affect European and US car manufacturers.
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