German Minister: Global Trade War Biggest Concern at G20 Meeting

Photo by Heinrich-Böll-Stiftung from Flickr

Olaf Scholz, the Finance Minister of Germany, informed the reporters that were travelling home with him that concerns regarding a global trade war were able to dominate the meeting of finance ministers from the G20 countries that were in Argentina this week.

The German Finance Minister said that a vast majority of participants expressed their concerns regarding a further escalation in the wake of planned tariffs on steel and aluminium of the United States of America. He also underscored the significance of continuing to caution others against “protectionist tendencies.”

Citing discussions with the United States, Scholz stated: “It was a success that there were discussions about it.

“That at least marks some progress.”

Peter Altmaier, the Economy Minister of Germany, also struck an upbeat tone after his meetings with officials from the United States including Wilbur Ross, the Commerce Secretary, and Robert Lighthizer, the Trade Representative.

On a Twitter post, he said: “On the way home from Washington. Good discussions with Ross, Lighthizer, senators, companies. [An] agreement is possible if we want.”