European Commissioner for Trade Cecilia Malmstroem looks at her watch as she attends a meeting of the College of the European Commission at EU headquarters in Brussels on Wednesday, March 7, 2018. The European Union will set out its strategy Wednesday on how to counter potential U.S. punitive tariffs on steel and aluminum. (AP Photo/Virginia Mayo)
March 07, 2018 - 2:15 AM
BERLIN - Germany's economy minister says "the situation is serious" regarding U.S. President Donald Trump's planned tariffs on imports of steel and that the country is in close consultation with other member countries of the European Union about it.
Economy Minister Brigitte Zypries said Wednesday, the EU will "be ready to react appropriately. However, it is our goal to avoid a trade war."
Zypries said in a statement she hopes Trump will change his mind regarding slapping tariffs on steel imports.
She said, "trade creates wealth, when it is based on exchange and co-operation" and added, referring indirectly to the surprise resignation of Trump's top economic adviser Gary Cohn Tuesday, that, "advocates for this in the U.S. administration are very important. Therefore the current signals from the U.S. make me worried.
News from © The Associated Press, 2018