EU and US Must Apply the Emergency Brake in the Trade Dispute
“EU Commission President Juncker and US President Trump must apply the emergency brake in the trade dispute. For this, Washington needs to de-escalate the rhetoric. The tariffs imposed under the guise of national security should be removed.” That was what the President of the Federation of German Industries (BDI), Dieter Kempf, said in Berlin about Wednesday's planned meeting between Donald Trump and Jean-Claude Juncker.
“It is now important to establish a common understanding of the facts and regain trust,” stated the BDI President. He went on to say that Juncker must make it clear that the US is damaging itself by imposing tariffs on motor vehicles and parts. The German car industry alone employs more than 118,000 people in the US. 60 percent of its production is exported from the US to other countries.
“Europe should not allow itself to be blackmailed and should behave confidently in the US,” Kempf stressed. He said that, as one of the largest trading powers in the world, Europe should make it clear that international trade disputes must be dealt with and resolved within the framework of the World Trade Organization (WTO), and that unilateral trade policies outside of WTO rules are harmful to economic development around the world, including in the US.