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German Vice Chancellor: If the U.S. imposes additional tariffs, the EU will retaliate
Golden Finance reports that on May 5th, German Vice Chancellor and Finance Minister Olaf Scholz called on U.S. President Donald Trump on May 4th to fulfill the tariff agreement reached with the European Union last summer. Scholz stated, “Europe keeps its promises, and now I hope the U.S. side will do the same. Imposing tariffs will harm businesses and employment on both sides of the Atlantic.” At the same time, Scholz explicitly stated that if Trump raises the EU’s auto tariffs from the previous 15% to 25%, the EU will retaliate. Scholz said that the stance of EU countries, including Germany, is very clear: “We do not want the situation to escalate, but we are also prepared to respond if it does.” (CCTV News)