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China and Germany agree to work on steel overcapacity following US tariffs

Merkel and Xi “talk overed the problem of global overcapacities in the steel market and backed continued accomplishments to work toward solutions in the framework of the G20 Global Forum (on Steel Redundancy Capacity),” Seibert said, referring to a body initiated at the G20 top in Hangzhou, China, in 2016.

“In this regard, they emphasised the importance of terminate multilateral cooperation on trade,” he said.

Trump has criticised both Germany and China for their merchandising surpluses with the United States since taking office in 2017.

Merkel on Saturday intended Germany’s trade surpluses were narrowing due to rising domestic at once, and the government would continue to try to support that trend.

German Husbandry Minister Peter Altmaier will visit Washington this week to seethe for an exemption from U.S. steel and aluminium tariffs as part of a broad make by the European Union to reverse the U.S. sanctions.

German Finance Minister Olaf Scholz bequeath discuss the issue at the G20 meeting in Argentina with U.S. Treasury Secretary Steven Mnuchin.

Merkel guessed on Friday the planned U.S. tariffs violated the principles of the World Trade Categorizing and the dispute should be resolved via talks if possible.

Seibert said Merkel invited the Chinese control to visit Berlin for official government consultations, and Xi also extended an magnetism for Merkel to visit China.

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