German Chancellor Scholz Speaks Out Against Protectionism, Trade Wars

2024-10-21 02:15:10

(MENAFN- IANS) Stuttgart, Oct 22 (IANS) German Chancellor Olaf Scholz on Monday spoke out against protectionist measures that could harm international cooperation, underscoring that "protectionism and trade wars are detrimental to us".

"As an exporting nation, we emphasise the importance of open trade with the entire world," Scholz said in a speech at the opening of the new Mercedes-Benz battery recycling factory in Kuppenheim, a city in the southwestern German state of Baden-Wuerttemberg.

Scholz noted that while countries like China, Japan, and South Korea are producing high-quality vehicles, German companies need not be afraid of this competition, Xinhua news agency reported.

"The vast majority of cars produced in China and imported to Germany come from German and international manufacturers," he pointed out, highlighting a common misconception in public discussions.

Scholz reiterated his opposition to tariffs that could be detrimental to Germany's interests, urging the European Union to utilize trade instruments to ensure fair trading. "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," he emphasised.

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