German Chancellor Angela Merkel warned “nobody will win” a global trade conflict after U.S. President Donald Trump approved tariffs on foreign steel and aluminum, Bloomberg reported.
With Germany in Trump’s sights for its trade surplus, Merkel signaled on Friday that her government will support European Union retaliation if necessary, though she prefers reviving talks on an EU-U.S. trade pact to lower tariffs and defuse the conflict.
“I don’t want to use martial language -- that doesn’t help us get any further,” Merkel told reporters in Munich after meeting the heads of leading German business groups. “It would ultimately be detrimental to everyone. No one would win such a competition.”