{"id":89442,"date":"2018-08-27T03:30:22","date_gmt":"2018-08-27T03:30:22","guid":{"rendered":"http:\/\/www.bnreport.com\/trumps-trade-war-is-destroying-economic-growth-says-german-minister-13\/"},"modified":"2018-08-27T03:30:22","modified_gmt":"2018-08-27T03:30:22","slug":"trumps-trade-war-is-destroying-economic-growth-says-german-minister-13","status":"publish","type":"post","link":"https:\/\/www.bnreport.com\/en\/trumps-trade-war-is-destroying-economic-growth-says-german-minister-13\/","title":{"rendered":"Trumps trade war is destroying economic growth, says German minister"},"content":{"rendered":"

U.S. President Donald Trumps sanctions and trade tariffs imposed on countries like China and Turkey are damaging economic growth, German Economy Minister Peter Altmaier said in an interview published Sunday.<\/p>\n

\u201cThis trade war is slowing down and destroying economic growth, and producing new uncertainties,\u201d Altmaier told Bild am Sonntag<\/a> newspaper. \u201cThe past has shown that during trade wars, consumers suffer above all because products get more expensive.\u201d<\/p>\n

The United States is about to hit a variety of synthetic rubber products and halogenated polymers from China on August 23, as part of its second tranche of punitive tariffs. Trump also said Friday he would hit Turkey with increased steel and aluminum tariffs<\/a> amid a diplomatic row over the arrest of an American pastor and charges against several U.S. officers at the \u0130ncirlik Air Base in southern Turkey.<\/p>\n

Altmaier also praised an agreement reached last month<\/a> by Trump and European Commission President Jean-Claude Juncker on trade, saying it has saved hundreds of thousands of jobs in Europe.<\/p>\n

\u201cWe have again turned the corner just a few meters from the edge. A global trade war would not know winners, only losers,\u201d he said. \u201cThe agreement that EU Commission President Juncker set up with Trump secures hundreds of thousands of jobs in Germany and Europe.\u201d<\/p>\n

Altmaier was also critical of U.S. sanctions against Iran, the first set of which came into force last Monday. \u201cWe do not let Washington dictate trade relations with other countries and therefore stand by the Vienna nuclear agreement so that Iran does not produce nuclear weapons,\u201d Altmaier said, referring to the 2015 deal reached with Iran.<\/p>\n

In a joint statement<\/a> on Monday, the European guarantors of the Iran agreement said they were actively working to thwart the U.S. sanctions.<\/p>\n

\u201cWe deeply regret the re-imposition of sanctions by the U.S., due to the latters withdrawal from the [deal],\u201d the EUs high representative for foreign affairs, Federica Mogherini, said in the statement, also signed by the foreign ministers of France, Germany and the U.K.<\/p>\n

Read this next: US to London: Back us on Iran<\/a><\/em><\/h2>\n","protected":false},"excerpt":{"rendered":"

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