German finance minister ‘seriously worried’ about U.S. trade stand-off

BERLIN (Reuters) – German Finance Minister Olaf Scholz is “seriously concerned” about a trade stand-off with the United States, he told mass-selling daily newspaper Bild.

Asked by Bild if a trade war was an issue for a meeting of Group of 20 finance ministers in Buenos Aires, Scholz said: “I am cautious about using the term ‘war’.”

“But I am seriously concerned that the foundation of our prosperity – free trade – is being put at risk,” he added. “Protectionism is not the answer to the difficulties of our time. The situation is serious.”

Scholz said on Sunday Germany would continue talks to dissuade the United States from imposing planned punitive steel and aluminum tariffs.

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