Germany should fix the current trade tensions sparked by U.S. President Donald Trump, a former German state secretary told CNBC Friday, as he expressed sympathy with the U.S.' position in an escalating war of words with China over trade practices.
Flassbeck's comments come amid rising fears of an all-out trade war between the U.S. and China. On Thursday, Trump instructed his trade team to consider $100 billion in additional tariffs on Chinese products — raising fears of a continued escalation against global free trade. This would be the second set of tariffs imposed on China in a couple of weeks.
In early March, Trump started by implementing tariffs on aluminum and steel imports — measures that did not represent a big impact for China, but did for countries like Japan and potentially Europe too.