Washington
cannot dictate trade rules to others, Germany’s economy minister
said, adding that his country should be more assertive and defy
American sanctions – particularly by investing more in Iran.
“We
don’t let Washington dictate [their will] on trade relations with
other countries,” German Economy Minister Peter Altmaier told
Bild newspaper on Saturday. He said the US sanctions on Iran are one
instance in which America’s neglect of its partners are clearly
shown.
Therefore,
Germany and other European countries should feel free to pursue
improved relations with Tehran. “German businesses can continue
to invest as much as they want in Iran,” Altmaier said, adding,
however, that “many companies depend on loans from banks, most
of which refinance themselves in the US – and it creates problems.”
Altmaier’s
words come after the Trump administration imposed a second round of
sanctions targeting Iran’s purchase of US dollars, despite pleas
from some world powers. Earlier this year, Washington slapped Tehran
with sanctions aimed at curtailing trade as well as the energy and
shipbuilding industries.
These
restrictions have damaged EU ties with Iran, which flourished after
the milestone 2015 nuclear deal abandoned by the US. Last week, the
EU responded to the latest Iran sanctions by calling on companies to
disregard threats from the US. Apart from the issue of Iran, the US
and Europe are locked in a dispute over tariffs on steel, aluminum,
and automobiles.
With
that in mind, the German minister said, the world now risks sliding
into an all-out economic conflict, adding that “we are just a
few yards from the edge,” and “a global trade war would
not know winners, only losers.” Politicians have no right to
jeopardize hundreds of thousands of European jobs that depend on
US-EU trade, he stated.
“We
have learnt from the past that mostly customers are suffering from
trade wars as goods and services are getting more expensive,”
Altmaier said. “This trade war hampers economic growth and
brings new uncertainties.”
Source:
Comments
Post a Comment