The German Minister of Finance warns against the risk of recession due to Trump – Politico prices

Kukies rejected the idea that Washington gained the upper hand in commercial negotiations after announcing the last rates.

“The desire to negotiate existed long before the prices announced,” he said. “I do not see that the United States has gained great advantage.”

Kukies also supported the European Commission for the preparation for difficult countermeasures in the event of failure of talks, while offering to eliminate tariffs on industrial goods if the United States realizes. “There is a broad consensus in German politics behind this strategy,” said Kukies.

He also underlined the deterioration of feeling in the American economy. “All the reactions we see of American companies and investigations indicate that the risk of recession increases,” he said. “And in a slowdown, tax revenues tend to shrink – not to grow.”