US ‘endangers’ global economy

THE TARIFFS and sanctions that have become key to US trade policy are a risk to the global economy, said German Economics Minister Peter Altmaier in comments published by German tabloid Bild yesterday. “This trade war is slowing down and destroying economic growth and producing new uncertainties,” he told the newspaper. “The past has shown: It’s only consumers who suffer in trade wars, because products become more expensive.” He was especially critical of new US sanctions against Iran, which are being used to keep foreign firms out of the country. “We’re not going to let Washington dictate our trade ties with other countries,” said Altmaier. He said that German companies that invest in Iran will receive support from the German government.