German Chancellor Olaf Scholz has issued a strong warning against the threat punitive US tariffs pose to global trade, emphasizing the need to maintain open markets. Speaking at a meeting with British Prime Minister Sir Keir Starmer at Chequers, Scholz stressed that international trade had been a key driver of prosperity and should not be hindered by customs barriers.
“The global exchange of goods and materials has proved a great success which has allowed us all to enjoy prosperity,” Scholz stated. “That’s why we must not divide up the world with customs barriers. Instead, we must make it possible for the exchange of goods and services to continue in future.”
His remarks came in response to US President Donald Trump’s announcement earlier in the day of new punitive tariffs on imports from China, Canada, and Mexico. Trump also issued warnings to the European Union over its trade surplus with countries like Germany.
When asked about possible European countermeasures, Scholz underscored the EU’s economic strength, stating that the bloc had “ways and means of taking action.” He emphasized that this economic power would serve as the foundation for continued relations with the US.
The risk of an escalating trade war with the US is expected to dominate discussions at today’s European Union summit in Brussels. EU leaders will also deliberate on measures to strengthen the bloc’s defense capabilities in the face of evolving global challenges.
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