BERLIN, March 2 (Xinhua) -- Unilateral punitive tariffs jeopardize world trade and thus growth and prosperity, German politicians from the federal parliament (Bundestag) said on Friday.
"Unilateral trade restrictions or punitive tariffs are not the right answer to the challenges of the global trading system," said Christian Hirte, deputy chairman of the CDU/CSU parliamentary group.
Hirte declared in a statement that not only Germany and Europe, but also the United States have benefited significantly from free world trade in recent decades. "We must therefore do our utmost to avoid a trade war. Because that would end up losing everyone."
Economic and energy policy spokesman of the CDU/CSU parliamentary group Joachim Pfeiffer said that it is important to prevent a looming spiral of global protectionism, adding "The aim of the U.S. administration is apparently to set a domino effect with unilateral punitive tariffs."
"Europe can not play this game because it endangers the stability of the global trading system and thus growth and prosperity worldwide, not only in Europe, but also in the U.S.," Pfeiffer stated.
U.S. president Donald Trump has announced the imposition of a 25 percent tariff on all steel imports and 10 percent on broad categories of aluminium imports, prompting widespread criticism of this material manifestation of his "America First" rhetoric across the world.
