March 9, 2018 / 9:27 AM / 2 months ago

German industry warns against "spiral of protectionism" after U.S. tariffs

BERLIN, March 9 (Reuters) - Four German industry groups on Friday warned against a “spiral of protectionism” after U.S. President Donal Trump’s imposition of tariffs on steel and aluminum, urging the government and the European Union to remain committed to free trade.

The DIHK trade group, BDA employers association, BDI industry group and German Confederation of Skilled Crafts (ZDH) also raised concerns about German domestic policy issues in a joint statement issued after a meeting in Munich.

“German industry is extremely concerned about the decision of the U.S. government to imposed far-reaching punitive tariffs,” the groups said in a joint statement. “To prevent a spiral of protectionism, Germany and the European Union must continue to stand up the global world trade system.” (Reporting by Gernot Heller Writing by Andrea Shalal Editing by Joseph Nasr)

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