German Chancellor Olaf Scholz made a strong statement against protectionist measures on Monday, highlighting the risks they pose to international cooperation. Speaking at the inauguration of the new Mercedes-Benz battery recycling factory in Kuppenheim, Baden-WĂĽrttemberg, Scholz emphasized that \"protectionism and trade wars are detrimental to us.\"
He reiterated Germany's commitment to open trade, stating, \"As an exporting nation, we emphasize the importance of open trade with the entire world.\" Scholz pointed out that competition from countries like China, Japan, and South Korea should not be feared, as German companies continue to thrive in the global market.
Addressing misconceptions, Scholz clarified, \"The vast majority of cars produced in China and imported to Germany come from German and international manufacturers.\" This statement aims to dispel fears around foreign competition and promote a more accurate understanding of the automotive industry's dynamics.
He also voiced his opposition to tariffs that could harm Germany's economic interests, urging the European Union to employ trade instruments that ensure fair competition. \"As an exporting country, we value open trade with the whole world. And that's why we don't need the best tariffs, but the best cars and the most modern technology,\" Scholz concluded.
Reference(s):
German Chancellor speaks out against protectionism, trade wars
cgtn.com
