Germany's Economy Minister Robert Habeck has said that the premise of US President Donald Trump's wide-ranging tariffs is nonsense, arguing that Europe is in a strong position.
Habeck, who is also vice chancellor in Germany's outgoing government, stated this on Monday as he arrived for a meeting of European Union trade ministers in Luxembourg.
He further said that he and his colleagues must act“calmly, prudently but also clearly and with determination.”
According to him, “that means“being clear that we are in a strong position and America is in a position of weakness”.
Habeck stressed that it was important for the EU to stick together, arguing that attempts by individual countries to win exemptions haven't worked in the past.
He emphasized the significance of trade agreements and contacts with other regions of the world, such as South America, Asia and the Pacific.
Speaking of Trump's tariffs, the German minister said even the basis of the calculation is nonsense, adding that the assumption that a trade budget surplus or deficit is a problem in itself is a wrong estimation.
