Hamilton Crawford - Germany Calls for permanent tariff exemptions
Posted by Donald Hood on May 4th, 2018
1888PressRelease - Hamilton Crawford - Germany wants permanent exemption from Trump’s postponed metals tariffs.
Analysts at Hamilton Crawford say Germany expects the temporary extension of tariff exemptions granted by the United States to allow for further negotiations for it to be made permanent.
Deputy government spokeswoman Martina Fietz stated that the European Union and the United States would not benefit from increased tensions in trade relations and would instead have an interest in stronger trade relations brought about by further negotiation.
On Monday, the White House announced that US President Donald Trump had made the decision to delay the imposition of tariffs on metals imports and offered another temporary reprieve for Mexico, Canada and the European Union. Hamilton Crawford analysts say the extension of tariff exemption is for a final 30 days to allow those countries to negotiate a trade agreement with the United States.
Eric Schweitzer, president of Germany’s Chambers of Commerce and Industry stated that the postponement of the tariff implementation gives the opportunity for discussions with the US that could neutralize the trade conflict to take place.
Hamilton Crawford analysts believe that the current situation emphasizes the need for a new transatlantic trade deal.
Earlier this week, Germany’s Ecionomy Minister said that he did not hold much hope for the revival of the trade deal between the United States and the European Union known as the Transatlantic Trade and Investment Partnership. He added that a fresh agreement would need to be considered after negotiations over TTIP had proven unsuccessful.
The European Union has accused the United States of extending market uncertainty by postponing the imposition of its metals tariffs.