Germany’s Welcker calls for new EU trade deal with the US

Germany’s engineering trade body, VDMA, President Carl Martin Welcker said in a prepared speech at the Hannover Messe trade fair on Monday, a fresh European Union (EU) trade deal needs to be reached between the EU and US in the face of Trump’s steel and aluminum tariffs.

Key Quotes via Reuters:

“Nobody can have any interest in an escalation of trade disputes in which all sides - the United States, China and Europe - stand to lose at the end.” 

“The U.S. President has made a lot of waves with his erratic trade policy and the announcement of a number of tariffs. We are very concerned about that.”