23:55 GMT09 May 2021
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    BERLIN (Sputnik) - Germany and the European Union should not allow the trade dispute between Washington and Beijing to escalate any further, as it will have negative consequences for both German and European companies working in the United States and China, German Economy Minister Peter Altmaier said on Wednesday.

    "The US-China trade dispute leads to constraints that we are already feeling in Europe since there are hundreds of German and European enterprises working in the United States for the Chinese market, and in China for the US market. We are too connected at the international level to allow this trade war to take place," Altmaier said at an economic forum in Berlin.

    The minister warned against allowing trade relations to become "hostage of politics," stressing the importance of multilateralism.

    READ MORE: China-US Trade Wars Have Little Impact on Beijing Economy — Statistics Bureau

    Chinese media reported on Tuesday that Vice Premier Liu He planned to visit the United States in the near future in a bid to reduce trade tensions.

    The mentioned China-US trade row escalated in March after US President Donald Trump announced import tariffs on steel and aluminium. Since then, Washington and Beijing have imposed several rounds of tit-for-tat tariffs.

    READ MORE: US Resumes Discussions With China Amid Trade War Tensions

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