German Finance Minister Lars Klingbeil stated on Sunday that the United States has a considerable interest in swiftly resolving the tax dispute related to German duties.
This matter gained renewed attention on Friday after reports indicated that U.S. President Donald Trump is considering imposing a 50% duty on goods imported from Europe, starting with those from June/July.
Official figures reveal that Germany was the largest European exporter to the United States last year, with exports totaling 161 billion euros ($183 billion).
However, Klingbeil told the German broadcaster (ARD) that the U.S. duties pose a risk to the United States and would also harm the German economy.
He added, "I don't believe in threats; I believe in focusing on the issues. We want a joint solution with the United States... and I think it is also in the interest of the United States to say very clearly here that this is damaging to the United States."
According to all the data received from the United States regarding the strength of the dollar and American bonds, it appears that they also suffer from our cooperation.
The White House has been considering German duties since Trump initially imposed them in April/Nissan on the global system, after investors began selling American assets, including government bonds and the dollar.
But Trump has stuck to a basic 10% duty on the system of imports, and subsequently reduced duties on Chinese sales from 145% to 30%.
Regarding the imposition of a 50% duty on imports from the European Union, this would raise prices in the United States, especially for German equipment, tools, and cars.