June 13, 2018 / 3:34 PM / 6 months ago

EU efforts to stop spiral of tariffs have failed so far: Altmaier

Minister for Economic Affairs and Energy Peter Altmaier delivers a statement after the weekly cabinet meeting in Berlin, Germany June 6, 2018. REUTERS/Axel Schmidt

BERLIN (Reuters) - European efforts to stop a spiral of tariffs, sparked by U.S. President Donald Trump’s ‘America first’ trade policies, have not been successful so far, German Economy Minister Peter Altmaier said on Wednesday.

Altmaier also told a real estate conference the government would stick to its most recent growth forecasts for the German economy of 2.3 percent for this year and 2.1 percent for 2019 despite increased trade tensions.

“There is no automatism that the German upswing will end this year, next year or the following year... I don’t see any sign of economic crisis on the horizon,” Altmaier added.

Reporting by Michael Nienaber; Editing by Andrea Shalal

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