Trade war could damage global recovery, Germany warns

Germany said on Thursday that any escalation of US President Donald Trump’s tariffs on metal imports into a full-blown trade war could cause tangible damage to the global recovery. The Economy Ministry said in its monthly report that the tariffs themselves should have only a limited effect. “The German economic upswing is continuing at the beginning of 2018. The global economic environment is still favorable,” the ministry said. It added that US trade policies were creating a sense of uncertainty, Reuters reports. European Council President Donald Tusk on Wednesday urged the US to revive trade talks rather than escalate a dispute over tariffs on metals and cars.