Higher US steel tariffs for Germany and the EU, which hurts. Imports make up only a small fraction of imports. However, this could be the beginning of a much bigger trade war.
There are allegedly differences within the Chinese leadership over the course of the trade dispute with the US. A consensus might be found at the traditional summer party conference in Beidaihe.
The leaders agreed to work toward "zero tariffs" between the US and the EU, which would decisively reverse the slew of trade tariffs imposed recently. The deal involves the EU purchasing natural gas from the US.
One of Germany's oldest industrial giants has agreed to a merger deal with one of India's biggest steelmakers. Thyssenkrupp sought the deal as a way to overcome challenges caused by cheap Chinese steel.
President Donald Trump's delay of his decision on punitive tariffs shows he is not interested in settling the dispute. He is simply addicted to attention and needs a stage. That's dangerous, says Bernd Riegert.
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