Scholz warns against customs barriers

Chequers (dpa) – Chancellor Olaf Scholz has warned of the threat to global trade posed by punitive US tariffs. “The global exchange of goods and materials has proved a great success which has allowed us all to enjoy prosperity,” Scholz said at a meeting with the British Prime Minister Sir Keir Starmer at Chequers just outside London (photo). “That’s why we must not divide up the world with customs barriers. Instead, we must make it possible for the exchange of goods and services to continue in future.” 

Earlier that day, US President Donald Trump had announced he was imposing punitive tariffs on goods from China, Canada and Mexico. He also threatened the EU due to the trade surplus with countries such as Germany. When asked about possible European responses, Scholz said the EU was a strong economic area and had “ways and means of taking action”. This economic strength would form the basis for ongoing economic relations with the US, he said. 

The risk of a trade war with the USA will be high on the agenda for a European Union summit in Brussels today. EU leaders are also expected to discuss possible initiatives to expand defence capabilities.