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German Chancellor Calls to Avoid Customs Duties, Emphasizing Benefits of Globalization

Economic Policy Update

German Chancellor Olaf Scholz has weighed in on the recent imposition of new tariffs by US President Donald Trump on imports from Mexico, Canada, and China. During a discussion on Sunday, Scholz emphasized the importance of not further fragmenting global trade through the establishment of new economic barriers, highlighting the benefits that arise from globalization.

While President Trump has signaled potential tariffs on the European Union, such measures remain unimplemented. In response to inquiries about the EU’s potential action, Scholz asserted that the bloc possesses significant leverage as a major economic entity.

“Our aim is to continue fostering economic relations based on cooperation and collaborative efforts,” Scholz remarked following a meeting with UK Prime Minister Keir Starmer at Chequers, the picturesque rural residence of British leaders located northwest of London.

The German opposition leader, Friedrich Merz, who is a leading contender for the chancellorship in the upcoming elections, has also voiced concerns regarding the implications of the newly imposed tariffs.

“Tariffs are an ineffective approach to resolving trade policy disputes,” Merz stated at a conference hosted by the Christian Democratic Union Party, addressing the elections set for February 23. He further noted that the burden of tariffs would primarily fall on American consumers, urging the EU to pursue diplomatic negotiations with the United States.

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