Donald Trump’s tariffs will cost jobs and growth: German minister

FILE PHOTO: German Economy and Energy Minister Brigitte Zypries speaks during the G20 forum on steel overcapacity in the Federal Ministry of Economics and Energy in Berlin, Germany, November 30, 2017. REUTERS/Axel Schmidt

Vastavam web: U.S. President Donald Trump’s tariffs on steel and aluminium imports will cost jobs and growth, German Economy Minister Brigitte Zypries told on Sunday, adding that Europe and other free traders should not let themselves be divided.Trump set import tariffs on Thursday of 25 percent on steel and 10 percent on aluminium, to come into force in 15 days. He exempted Canada and Mexico, however, and held out the possibility of excluding other allies.

“He does not want to understand its architecture, which is based on a rule-based system of open markets. Anyone, who is questioning this, is jeopardising prosperity, growth and employment,” Zypries said.Germany and its allies must now safeguard the free trade order and avoid being divided by Trump’s offer to exempt some allies from the proposed tariffs, Zypries said.