TAIPEI, Taiwan, March 21, 2018 (Newswire.com) - Germany and Argentina’s finance ministers want to support maintaining free trade at a summit in Buenos Aires later this week.
Evans Chamberlain economists say a decades-long international agreement on trade has come under threat because of U.S. President Donald Trump’s protectionism which includes his imposition of harsh metals tariffs. These tariffs are due to be implemented on March 23.
Evans Chamberlain analysts say officials from Germany and Argentina will support free trade at a G20 summit this week.
At a previous meeting of the countries, the vital role of the rules-based international trading system was emphasized.
Argentina’s Treasury Minister Nicolas Dujovne and German finance minister Olaf Scholz stated that their countries hope to achieve an agreement in terms of maintaining the benefits of free trade.
In an earlier statement to the press, Scholz cautioned that protectionism could severely damage the economic outlook and that Germany would persist with efforts to discourage the U.S. from imposing the proposed metals tariffs.
Evans Chamberlain analysts say it is unlikely that all the issues between Brussels and Washington will be dealt with by the end of this week’s summit.
Germany’s finance minister has promised to spend more on German public infrastructure. This is something that European partners have been calling for for quite some time as it is believed that it will boost the entire region’s economy.
Evans Chamberlain analysts stated that Scholz’s attitude toward investment in infrastructure is vastly different to that of his predecessor Wolfgang Schaeuble, who favored austerity.
Source: Evans Chamberlain