In the ongoing trade dispute between the United States and the European Union, the German Industry and Trade Association (DIHK) sees no signs of de-escalation, despite a court ruling in the US blocking tariffs. “Uncertainty remains” said DIHK’s External Trade Director Volker Treier in an interview with the Funke Media Group’s Friday editions. “Until the final decision on the suspension of the tariffs, there is no reason for relief.”
Treier urged the EU to continue the dialogue in the trade conflict with a cool head, aiming to achieve a lasting and sustainable solution. “In parallel, the EU must consistently develop its strategic trade relationships, for instance, through new free trade agreements. Diversification is the imperative of the hour, not only in supply chains but also in export markets” Treier added.
On Wednesday, a court in New York ruled that the tariffs imposed by the US government were null and void. According to the judges, US President Donald Trump overstepped his authority when he imposed tariffs on imports from countries that export more to the US than they import. The US government has filed an appeal against the decision.