In a warning to the European Union, the German Federal Association of Industry (BDI) cautioned against hasty countermeasures in response to the 25 percent tariffs on steel and aluminum announced by US President Donald Trump. The BDI’s chief executive, Wolfgang Niedermayer, told the news portal Politico that the EU should “name its tools to counter an aggressive policy, but only as a last resort.”
Instead of reacting with hectic countermeasures to Trump’s announcement, Niedermayer emphasized the need for negotiations to find constructive solutions. “It’s a matter of finding a smart balance between determination and flexibility to stabilize economic cooperation and open up new paths” he said.
For Germany, the US is one of the most important export markets for steel and aluminum. An escalation of the tariff dispute would not only put jobs at risk but also threaten the country’s prosperity, Niedermayer warned. The European Commission had previously announced that it would “react” to the imposition of tariffs by Trump, but is currently waiting for details, a commission spokesperson said.