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7/11, 5:42 PM (Source: TeleTrader)
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EU, US should avoid escalating trade tensions - Altmaier

It is important to avoid escalating trade tensions between the European Union and the United States, Germany's Minister of Economy Peter Altmaier (pictured) said on Thursday, adding there was a "50-50" chance of averting car tariffs US President Donald Trump threatened to implement.

Citing similarities with the negotiations between the US and China, as well as the renegotiation of the North American Free Trade Agreement (NAFTA), Altmaier​ stated the talks between Brussels and Washington would likely follow a similar pattern and that it may take weeks or even months to reach any solutions on the trade issues between the bloc and the US.

Earlier, Trump accused the EU of "currency manipulation" and "pumping money" in order to compete with the US economy.

Breaking the News / MD