(Bloomberg) -- German Finance Minister Christian Lindner warned Donald Trump against starting a trade war with the European Union if he returns to the White House because imposing tariffs would hurt both sides.
Lindner, who’s also head of the pro-business Free Democrats, called instead for transatlantic solidarity to stand up to China, which he said posed a potential risk to “the league of liberal democracies and free traders.”
“Every kind of trade conflict harms both sides,” he told Bloomberg TV in an interview in New York on Wednesday. “There won’t be success for anyone out of a trade controversy between the US and EU.”
Lindner’s comments reflect wide concerns in Europe about the impacts of a second Trump presidency. The Republican candidate has declared tariffs “beautiful” and called the word his favorite in the dictionary. That has added to tensions over the US Inflation Reduction Act, a package of measures designed to boost the economy with green subsidies for companies investing in the country.
Lindner is meeting with investors in New York and visited the United Nations headquarters. His next stop is Washington to join the annual meetings of the International Monetary Fund and World Bank.
The German finance minister — an ardent defender of Germany’s so-called debt brake — also said that he doubted the US can continue with its current fiscal policy for the foreseeable future. He said Brussels and Washington need to agree on a level playing field and a fair trade agreement, whoever wins the next election.
“It is in the best interest of the United States — it doesn’t matter who enters the White House — to remember this: together we are stronger,” he said.
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