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'No solution in sight' to trade dispute with Trump, German minister says

Reuters  |  BERLIN 

By Joseph Nasr

BERLIN (Reuters) - sees no to the trade dispute with the United States, and must act decisively in the wake of Donald Trump's decision to impose tariffs on metals, Germany's said on Monday.

U.S. Trump stunned allies on Sunday by backing out of a joint communique agreed by leaders in that had mentioned the need for "free, fair, and mutually beneficial trade" and the importance of fighting protectionism.

Trump, who has shocked allies by hitting them with tariffs on and aluminium, also said he might double down by hitting the auto industry, a particularly sensitive issue for whose relies heavily on the U.S. market.

"It is important that the Europeans act decisively," German told Deutschlandfunk public radio. "At the moment it seems that no solution is in sight, at least not in the short term."

"We are ready to discuss trade imbalances. We are ready to consider factual arguments. But we believe this should happen among friends and partners and not through reciprocal confrontation," Altmaier said.

Altmaier said that the leaders' summit had produced "setbacks," adding that further tariffs by the would not only harm its allies but also the U.S. economy.

on Sunday said Trump's backing out of the final communique via was "sobering and a bit depressing." She promised an EU response to the and aluminium tariffs in line with rules.

Merkel will on Monday hold talks with Christine Lagarde, WTO Roberto Azevedo, and

(Editing by Peter Graff)

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, June 11 2018. 14:18 IST