The global economy is slowing and political leaders must avoid any escalation in trade disputes, German Finance Minister Olaf Scholz said an in interview with Reuters on Wednesday, ONA reports.
“All parties must do their part to avoid an escalation of trade disputes,” Scholz said when asked to comment on the U.S. threat to impose additional tariffs.
Speaking ahead of meetings of the International Monetary Fund (IMF) and World Bank in Washington later this week, Scholz said that the global economy was losing steam, but that there was still growth in Europe and Germany.
He added that political problems such as the U.S. trade disputes and Brexit could be solved. “That’s why the talks in Washington are so important,” Scholz said, adding that Germans and Europeans should go into talks with their U.S. counterparts with a cool head.