Lindner issues warning over potential trade conflict with China.
Christian Lindner, Germany's Finance Minister, cautioned against instigating a trade war amid discussions on imposing tariffs against Chinese products. In a gathering of the G7 finance officials in Italy, Lindner, a member of the FDP, stressed the necessity of examining if China is dumping its items with utmost objectivity and caution.
Lindner highlighted the importance of responding to unfair trade practices but stressed that global trade must not be negatively impacted during this process. He emphasized that, "Trade wars only have losers, and you can't win them."
The US imposed 100% tariffs on Chinese electric car imports and several other products last week, accusing Beijing of unfairly influencing the competitive landscape through significant government subsidies. The EU is currently evaluating the scope of China's market manipulation pertaining to electric cars. A decision to impose retaliatory tariffs is pending.
The Chinese Chamber of Commerce in Brussels has recently alarmed of possible repercussions from Beijing that might impact European and US automotive manufacturers.
Read also:
- Year of climate records: extreme is the new normal
- Precautionary arrests show Islamist terror threat
- UN vote urges Israel to ceasefire
- SPD rules out budget resolution before the end of the year
Christian Lindner, during his speech at the G7 finance officials meeting in Italy, expressed concern about allegations of Chinese dumping in the trade sector and urged caution before imposing tariffs, as he believes trade wars result in only losses with no winners. Despite Lindner's warning, the US has recently imposed 100% tariffs on Chinese electric car imports, alleging unfair trade practices, and the EU is evaluating China's market manipulation in the electric car industry.
Source: www.ntv.de
